Saudi Arabia Poised to Cut Oil Prices for Asia Amid OPEC+ Output Rise
Market Intelligence Analysis
AI-PoweredSaudi Arabia is likely to cut oil prices for Asia in December due to increasing supply and weaker benchmark prices, but price reductions may be limited by strong demand from India and China.
Market impact analysis based on bearish sentiment with 80% confidence.
Article Context
Increasing supply and weaker Middle Eastern benchmark prices will likely prompt Saudi Arabia to cut the official selling prices for its crude loading for Asia in December, but a scramble for non-Russian supply in India and China could limit the price reductions. Saudi Arabia, the world’s to crude exporter, is expected to cut the official selling price (OSP) of its flagship Arab Light crude for Asia for December by between $1.20 and $1.50 per barrel, according to a Reuters survey of Asian refining sources published on Friday. This would reduce…
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