Saudi Arabia Cuts Asia Oil Prices

Saudi Arabia Cuts Asia Oil Prices

Saudi Arabia has once again reduced the price of crude oil it sells to Asia, with the premium for the flagship Arab Light at $2.20 a barrel over the Dubai/Oman benchmark for cargos to be delivered in October. The price cut amounts to $1 per barrel from September, which was above analyst expectations of a smaller cut between $0.40 and $0.70, Reuters reported. The prices of other Saudi grades were also cut for October, by between $0.90 and $1 per …

Saudis cut oil prices for Asia as Opec+ ramps up output

The larger-than-expected price cut for Asia is surprising and sends a potentially bearish signal. Read more at straitstimes.com.

Oil Steadies After OPEC Output Hike

Oil futures steadied as OPEC approved a modest production hike while Saudi Arabia cut prices to Asia.