Saudi Arabia is losing market share to its OPEC rivals

AP Photo/Ronald Zak Iraq and Iran increased their crude oil shipments abroad last month, taking advantage of lower Saudi exports to key destinations to expand their international market share. Datafrom Bloomberg suggests that Iraq, OPEC’s number-two exporter, shipped 3.98 million bpd to foreign clients in September—the highest daily rate since last December. Iran, for its part, exported 2.28 million bpd in September, the highest since February. One analyst from Energy Aspects, Richard Mallin...