Saudi Aramco lowers December Arab Light crude prices to Asia

  • 11/4/2022
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REUTERS: Saudi Arabia lowered the December official selling prices for the flagship Arab light crude it sells to Asia to plus $5.45 a barrel versus the Oman/Dubai average, the country"s state oil producer Aramco said on Friday. The top oil exporter set its Arab Light OSP to northwest Europe at $1.70 a barrel against ICE Brent for December and to the United States at $6.35 versus ASCI. Late last month, trade sources said the country could cut the prices of most crude grades to Asia in December as weaker-than-expected fuel consumption in China amid its strict COVID-19 rules put a lid on regional demand.

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