Saudi Arabia cuts oil sales to U.S., ups China

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Saudi Arabia cuts oil sales to U.S., ups China FlorianPascale

Saudi Arabia cuts oil sales to U.S., ups China

01.10.04 20:23
Saudi Arabia cuts oil sales to U.S., ups China


Washington, DC, Sep. 16 (UPI) -- Saudi Arabia, long the largest supplier of oil to the United States, has cut U.S. sales dramatically and may soon no longer be among the top five largest U.S. suppliers.

The Saudi kingdom's new largest customer is China.

"Saudi sales to the U.S. have fallen off the table," James Placke, a senior associate at Cambridge Energy Research Associates and former U.S. deputy assistant secretary of state for Near Eastern Affairs, said Thursday.

Saudi oil sales to the United States peaked in 2002 at 1.7 million barrels per day but had fallen to 1.1 million barrels per day in May, the last month for which U.S. Department of Energy figures are available, Placke said at a Washington forum.

Placke, who has monitored Saudi oil sales for decades, said Saudi Arabia's traditional large share of the U.S. oil market has been a function of the country's special close relationship with the United States -- a tie that may be weakening.

"Saudi Arabia has been at the top for several decades, and that's by design. To the Saudi establishment, that position was an important element in maintaining what was known as the 'strategic relationship,'" Placke said. He said the Saudis used subtle methods that are no longer in place to lower the prices of their oil for U.S. customers and increase their market share in the United States.

Placke said Saudi Arabia's turn away from the U.S. market began at the end of 2002 as the United States was preparing to go to war in Iraq.
Placke said Canada and Mexico -- which he said were almost tied for the largest U.S. supplier -- have picked up much of the slack left by Saudi Arabia's retreat, along with Nigeria.
"The Saudis have basically played the role of the central bank," Gause said. "We're at a point where there's precious little surplus capacity."

Der Ölpreis wird seinen Anstieg in den kommenden Monaten fortsetzen während sich die Kämpfe in dem Irak intensivieren.

Die Invasion in dem Irak ist eine Schlacht um die Dominanz von dem Öl und die Whrscheinlichkeit von einer schnellem Lösung ist ziemlich gering, somit wird sich der Ölschock fortsetzen.
Saudi Arabia cuts oil sales to U.S., ups China FlorianPascale

Analysis: US, China face off for Saudi oil supplie

Analysis: US, China face off for Saudi oil supplies

“They (the Saudis) were forgoing a larger (profit) they could have gotten from East Asia,” said James Placke, a senior analyst at Cambridge Energy Research Associates. “In effect it was a subsidy to the American consumer.” Skyrocketing demand in China and a shift in US-Saudi relations could make Riyadh less willing to make that trade, Placke said.

“The Chinese will buy (Saudi) oil and grant market access with no discussion whatsoever of human rights or social change, and they will also be happy to exchange weapons without concern for the strategic consequences,” said David Goldwyn, president of Goldwyn International Strategies LLC.

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