Saudi Arabia could slash Arab Light premium next month
Despite escalating Red Sea tensions, Saudi Arabia, the world's largest oil exporter, is likely to cut its premium for all crude grades it sells to Asian countries to its lowest level in a year in February.。
Despite escalating tensions in the Red Sea, Saudi Arabia, the world's largest oil exporter, may cut its premium on all crude grades it sells to Asian countries to its lowest level in a year in February.。
According to Reuters, citing people familiar with the matter, the official selling price of Saudi Arabia's flagship Arab Light crude in February could be about 1 per barrel lower than Oman / Dubai crude..70 USD。The price of medium sour crude oil is similar to that of Arab light oil, with a premium of 0 per barrel compared to Dubai crude oil.60美元。
Despite OPEC + members agreeing to cut production by 2.2 million barrels a day in the first quarter, investors are skeptical that producers will stick to the deal.。
A source said: "Saudi Arabia needs to cut prices to defend its market share, as other oil prices are significantly lower.。"
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