- Aramco lowers Arab Light premium to Asia by 80 cents a barrel
- OPEC+ agreed to delay planned output increase by three months
Saudi Arabia is cutting oil prices for buyers in Asia by more than expected after OPEC+ further delayed an output revival, underscoring how the outlook for the market remains weak.
State oil producer Saudi Aramco will sell its main Arab Light crude grade at a premium of 90 cents a barrel to the regional benchmark in January, according to a price list seen by Bloomberg. That compares with $1.70 for this month. The company was expected to lower the premium by slightly less, to $1, according to a survey of traders and refiners.
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