Saudi Aramco cuts crude prices for Asian market in unusual move
According to a Bloomberg report, Saudi Aramco, the globe's top oil producer, has lowered the cost of its primary crude for customers in Asia due to increased market rivalry. The company plans to reduce the price of Arab Light for the upcoming month by $1.10 per barrel, setting it at a $1.50 discount compared to the local benchmark. Aramco has not offered such a discount since the price conflicts seen in 2020 and 2015.
by shortkt.com✓