Skip to content
Subscriber Only

As U.S. Shale Seeps Into Top Oil Market, Saudis Hone Defense

  • Asia largely spared from planned Saudi oil sale cuts in Jan.
  • Strengthening Dubai marker spurs U.S., Europe oil flow to Asia
Video player cover image

Can Saudi's Declare Victory on Oil Price Battle?

Updated on

As Saudi Arabia goes on a shock and awe attack to curb a global oil glut, it’s also playing defense to hold on to its most prized customers.

The kingdom is largely sparing Asia from reductions in crude sales, at least for now. That’s amid the threat of more U.S. and European supply coming to the world’s biggest market, as Saudi-led production cuts have boosted the Middle East oil benchmark relative to other regions. Also, crude’s surge risks reviving shale output while American shipments are already making their way to countries including Thailand, Japan and South Korea.