Top oil exporter cuts prices – media ...News

Russia Today - Economy
Top oil exporter cuts prices – media
source : Russia Today ( News ) () 74
Saudi Arabia’s action aims to support the market amid a seasonal drop in demand and concerns about supply overhang Major oil producer Saudi Arabia has cut the February price of crude for buyers in all regions, Reuters and Bloomberg reported on Sunday, citing a company statement. According to the reports, state producer Saudi Aramco has slashed its flagship Arab Light crude oil price to Asia, the country’s main market, by $2 to $1.50 a barrel above the benchmark, its lowest level in 27 months. The company also reduced oil prices for February delivery to northwestern Europe, the Mediterranean, and North America. The

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