Saudi Arabia cuts oil prices for Asian buyers, signaling market concerns amid weak demand.

Saudi Arabia has slashed oil prices for Asian buyers more than expected in January, with Saudi Aramco selling Arab Light crude at a 90-cent premium to the regional benchmark, down from $1.70 this month. This follows OPEC+'s decision to delay output increases, reflecting concerns about weak demand growth, especially in China. Benchmark oil prices, like Brent crude, have dipped to around $71 per barrel, highlighting the challenging market outlook.

3 months ago
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