Saudi Arabia Cuts Oil Prices To Asian Market

The world’s top oil exporter, Saudi Arabia, appears unconvinced that near-term demand has much room to grow as it reduced its official selling price for its flagship crude grade to its key market Asia. Saudi state oil giant Aramco cut on Thursday its official selling price (OSP) for the Arab Light crude grade shipped to Asia in December by $0.10 a barrel to a discount of $0.50 versus the benchmark Oman/Dubai average, off which Middle Eastern producers price the crude oil they sell in Asia, Bloomberg reported. The cut was in line with Asian…