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Saudi competitive advantage and world oil market

Saudi competitive advantage and world oil market
The Saudi share of the world oil market is under challenge from several sources, and especially from the Latin American and West African producers, from the untapped oil fields in Iraq, and from the reservoir of the Caspian Sea. While none of these new oil-producing areas alone can match Saudi reserves and production, together they will undoubtedly erode Saudi competitive advantage during the next decade. Longer term, they – and especially Iraq – might emerge as competing hubs to Saudi Arabia.

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