Saudi Arabia lost market share in more than half of the most important countries to which it sold oil in the past three years, even as the kingdom increased crude output to record levels.
Oil-producing nations including Russia and Iraq are putting pressure on Saudi Arabia in markets it regards as strategically important trading partners.
The world’s biggest oil exporter lost ground to rivals in nine out of 15 top markets between 2013 and 2015, including China, South Africa and the US, according to customs data.
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