Kuwait after Saudi Arabia and Iraq, reduced oil prices for Asia

Almaty. December 11. Silkroadnews - Kuwait after Saudi Arabia and Iraq has reduced the price of oil to Asia, according to RBC.
National oil company Kuwait Petroleum Corporation has offered to Asian customers in the next month the cost of a barrel of oil at $3.95 below the regional level. This is the biggest discount from December 2008
"Middle East oil producers in competition with exporters from Latin America, North Africa and Russia for an Asian manufacturer successively decrease prices. On December 5th largest oil producer in the world - Saudi Arabia has reduced the official selling prices for Asia and the USA. State oil company Saudi Aramco announced the reduction of the official selling price (OSP) of its oil for January to $1.5-1.9 per barrel for Asia and the $0.1-0.9 per barrel - for the United States as compared to December",- noted in the information.
According to the information, January discounts of Saudi Arabia to Asian consumers were the most significant, at least for the last 14 years. Observers saw in the actions of Riyadh a sign that Saudi Arabia activates a "price war" in order to defend its market share in the fight against American manufacturers.
On December 9 was provided a record of discounts for Asian countries announced by the Iraq National Oil Company SOMO. In January 2015 Brent Basrah Light in the region will be cheaper by $4/bbl. Prices for US customers decreased by $0.3 / bbl. According to the portal, the largest discount for Asian countries was provided by Baghdad since August 2003.
The newspaper reminds, the November decision of OPEC to maintain production levels led to a sharp decline in oil prices.
"In a situation of oversupply (crude oil) everyone has to protect its market share. Manufacturers are trying to sell as much oil as they can, even with low oil prices",- said oil trader Bayerische Landesbank in Munich Gerrit Zambo.
Kuwait is the third largest oil producer among the 12 OPEC members.