Portuguese / Spanish / English

Saudi Arabia sets January Arab Light prices to Asia, Aramco says

In this photo illustration the logo of "Saudi Aramco", the national oil and gas company of Saudi Arabia on May 12, 2022. [Ali Balıkçı/Anadolu Agency]
In this photo illustration the logo of "Saudi Aramco", the national oil and gas company of Saudi Arabia on May 12, 2022 [Ali Balıkçı/Anadolu Agency]

Saudi Arabia, the world's top oil exporter, cut the January official selling price (OSP) for its flagship Arab Light crude for Asian buyers on concerns over faltering demand and a potential increase in Russian competition, Reuters reports.

According to the report, the price for January-loading Arab Light to Asia was trimmed by $2.20 a barrel from December, to $3.25.

The Organisation of the Petroleum Exporting Countries (OPEC) and allies, including Russia, known as OPEC+, on Sunday decided to keep unchanged their plan to cut production report added.

READ: US Senator calls on Washington to 'freeze' cooperation with Saudi Arabia following OPEC+ agreement

Categories
Europe & RussiaInternational OrganisationsMiddle EastNewsOPECRussiaSaudi Arabia
Show Comments
International perspectives on apartheid and decolonization in Palestine
Show Comments