Saudi Arabia boosts crude oil share in Asia at Russia's expense

In November, Saudi Arabia increased its market share of Asia's crude oil imports while Russia's imports declined. Saudi imports rose to 5.83 million bpd, while Russia's dropped to 3.51 million bpd. Despite a rise in Saudi Aramco's oil prices, Saudi crude remained more price competitive than Russia's Urals, partly due to higher transport costs for Russian crude.