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Kuwait, Saudi Arabia start offering crude oil on CFR/CIF basis to Asia

June 10, 2015 (5:07 mins)

In an effort to defend their market share, Kuwait and Saudi Arabia have offered to pay for crude oil freight to buyers in Asia. In this podcast, Mriganka Jaipuriyar, associate editorial director for oil news, talks to Pradeep Rajan, senior managing editor for freight and shipping, and Takeo Kumagai, senior editor for oil news, on how this strategy will work for the two countries, how Iran has enticed crude buyers with this type of oil deal, and which countries are likely to take the offer.

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