Oil Prices

[CityFarmer]

Market share outweighed oil price, for Saudia Arabia...

CF san

Net petroleum exports by Saudi according to EIA:

Year million barrels of oil / day
2005 9.532
2006 9.078
2007 8.654
2008 9.192
2009 7.879
2010 8.329
2011 8.706
2012 8.980
2013 8.733

I haven't really seen any attempt by Saudi to maintain market share, especially in the years 2010 to 2013 (averaging below the years prior to GFC) when crude was rising steadily. Drop in 2009 is mainly due to the GFC.

I reckon you will agree, one of the reasons of Saudi, to maintain production amid lower oil price, is to keep its market share, right? It might be a change of strategy vs the past, due to the new King...