Saudi Aramco cut its official selling price for Arab Light crude oil to Asian buyers for September, pricing the grade at its widest discount to the Oman/Dubai average since June 2020. The move deepens a cut that started in August, previously the kingdom's largest in more than two decades.
Saudi Aramco set the official selling price for its main Arab Light grade to Asian buyers at $2 per barrel below the Oman/Dubai average for September, according to a pricing document reviewed Thursday.
The new price marks the lowest level since June 2020 for Arab Light sold into Asia.
Aramco had priced August's Arab Light grade at minus $1.50 per barrel to the same benchmark, which was then the kingdom's largest cut in more than two decades. September's reduction pushes the discount deeper still.
Source: Investing.com (snippet-based)
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