Saudi Arabia Regains Some Oil Market Share From Russia in Asia

Saudi Arabia’s oil exports to Asia rose in November, while Russia’s crude sales in the world’s most important oil-importing region fell amid lower purchases by Moscow’s two key markets, China and India. Recovering Asian refining margins, a decline in the premium of the Dubai benchmark to Russia’s Urals, and rising shipping costs for Russia’s crude helped Saudi Arabia boost its crude oil supply to Asia by 550,000 barrels per day (bpd) in November, according to data from LSEG Oil Research cited by Reuters’s…