Saudi compliance with the OPEC deal comes at a price

Heinz-Peter Bader/Reuters Saudi Arabia is following through with its pledge to stick to the output cuts in the OPEC/non-OPEC deal. The Kingdom is also reducing exports to some buyers, even to its most prized market — Asia. But this compliance comes at a price—Saudi Arabia has lost market share in Asia, with Russia, Angola and Iraq being the main beneficiaries. At first glance, it may seem odd that Saudi Arabia is giving up some share of its beloved Asian market. But the Kingdom has two very ...