Saudi Arabia is shipping more crude oil to Asia over the last two months of the year as strong refining margins boost demand, trade sources said, helping the top oil exporter defend its market share amid fierce competition. Cheap Saudi oil – in comparison with prices for other Middle Eastern grades – has drawn several Asian refiners to request a few million barrels above contractual volumes as they ramp up crude run rates to capture robust margins. The increment in demand will require Saudi Arabia to pump at near record volumes just as a battle over global market share is expected to intensify following the failure of the Organization of the Petroleum Exporting Countries (OPEC) to set a production quota, and ahead of higher exports from Iran next year once sanctions over its nuclear program are lifted. “There is a bigger call for Saudi crude as monthly supply nominations […]