"Saudi Arabia Slashes Crude Prices to 27-Month Low, Impacting Global Markets"
TL;DR Summary
Saudi Aramco announced a cut in crude prices to all regions, including Asia, amid weaker global oil prices and increased production by non-OPEC countries. The move comes after a summer rally and a fourth-quarter decline in crude prices. Oil prices bounced last week due to attacks on shipping in the Red Sea, stoking fears of a broader conflict. U.S. oil production has reached record levels, easing concerns about tight supplies and potentially leading to record-breaking U.S. crude exports.
Topics:business#crude-oil-prices#energy-markets#global-oil-market#opec#saudi-arabia#us-oil-production
- Saudis cut crude prices to all regions amid oil-price weakness MarketWatch
- Saudi Arabia Cuts Oil Prices to Asia as Market Weakness Persists Yahoo Finance
- Saudi Arabia cuts Feb Arab Light crude price to Asia to 27-month low Reuters.com
- Aramco's Arab Light crude prices to Asia hits 27-month low Arab News
- Saudi oil price cut to offer India room for better deals IndiaTimes
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