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Originally Posted by Arty
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They switch who gets discounts, they had prices up on europe and the usa for a bit while discounting asia. Now they are offering bigger discounts in europe and usa.
They arent the only ones up to discounting, mexico and venezuela are giving 4$ discounts on south america heavy crude to compete with canadian prices for wcs. China was buying oil from columbia a few weeks ago because they were discounting.
Lots of oil is sub 50$ already to get the stuff unloaded.
The only one that can cut on their own is saudi arabia, everyone else is pretty much stuck producing.