Lates News

Saudi Aramco has officially lowered the selling price of Arab Light crude oil to Asia by more than market expectations, indicating that the world's largest oil exporter is increasing its production while enhancing the attractiveness of its oil through price means. Analysts at DNB Carnegie said the price cut this time was $1 per barrel, while the market had previously expected a decrease of $0.50 per barrel. Analysts said this may mean that Saudi Arabia is using price means to push the increased production into the market.