Saudi Arabia Cuts Oil Prices for Asia as Demand Concerns Persist ...Middle East

Saudi Arabia has cut the official selling price for its crude oil for deliveries to Asia in January in a move that was largely expected amid depressed global prices. Saudi crude for delivery next month will be the cheapest in four years, according to Reuters columnist Clyde Russell, with the kingdom also cutting prices for deliveries to Europe and leaving prices for deliveries to the United States unchanged. Aramco lowered the official selling price for its flagship Arab Light blend from a $1.70 premium to the Oman/Dubai average for this month…

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