Saudi Oil Price Cut Scrambles Market.

The article discusses price changes for its oil announced by Saudi Arabia on November 3, 2014. The kingdom raised its price for oil sold in Asia but lowered its price in the U.S. Although some believe the Saudi move was aimed at competing more effectively against shale oil in the U.S. , an unidentified source said preserving market share was the chief motive. The stock prices of oil companies Exxon Mobil Corp. and Chevron Corp. finished lower on the day.