Saudi Arabia Cuts Oil Prices To Asian Markets Amid Sluggish Demand

Saudi Arabia, the world’s top crude oil exporter, on Thursday cut the prices of all its crude grades loading for Asia in February to the lowest level to regional benchmarks in more than a year, as demand concerns continue to prevail. Saudi Aramco, the state oil giant, cut the official selling price (OSPs) of its flagship crude grade, Arab Light, to Asia for February by $1.45 per barrel, setting the price at $1.80 a barrel above the Dubai/Oman benchmark. The premium to the Dubai/Oman average is the lowest since November 2021, but it was generally…