Refiners Expect Saudi Arabia to Cut Oil Price ...Middle East

OILPRICE - Economy
Refiners Expect Saudi Arabia to Cut Oil Price
source : OILPRICE ( Middle East ) () 39
Saudi Arabia may cut its official selling price for crude oil by as much as $0.40-$0.50 per barrel for Asian buyers, Reuters has reported, citing sources from the refining industry. The expected price cut concerns the flagship Arab Light grade that Saudi Arabia sells abroad, but other grades are also expected to see cuts, albeit smaller ones, at between $0.30 and $0.45 per barrel, according to the sources. The reason for these expectations is the decision by OPEC+ to keep returning supply to the market. OPEC+ is meeting later today and most observers…

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