Saudi Arabia May Have Set the Price of Its Oil Too High ...Middle East

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Saudi Arabia May Have Set the Price of Its Oil Too High
source : OILPRICE ( Middle East ) () 28
Asian buyers could reduce intake of term supplies from Saudi Arabia in January and look to buy more spot crude cargoes after the world’s top crude exporter reduced the price of its oil to Asia by less than expected, traders and refiners told Bloomberg on Wednesday.    On Tuesday, Saudi Arabia cut the price of its flagship crude, Arab Light, loading in January for Asia by $0.50 per barrel over the Oman/Dubai average, the benchmark off which Middle Eastern crude exports to Asia are priced.   While the cut was widely expected…

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