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Saudi Arabia Set to Slash Oil Prices to Asia Amid Falling Benchmarks ...Middle East
Saudi Arabia, the world’s top crude oil exporter, is expected to slash the price of its oil loading for Asia in May to the lowest level in three months amid a slide in regional benchmarks, a Reuters survey of Asian refining and trading sources showed on Friday. Saudi oil giant Aramco is set to slash its official selling price (OSP) for the Arab Light grade by between $1.80 and $2 per barrel to Middle Eastern benchmarks for cargoes loading for Asia next month, according to the survey. As a result, the flagship Saudi crude, Arab Light, could…
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