Daily Management Review

Saudi Arabia to lower oil prices for Asia and Europe


Saudi Arabia will lower prices for the majority of oil grades in January аor importers in Asia and Europe.

Petr Kratochvil
Petr Kratochvil
Prices for the United States will remain steady for the second consecutive month, reports Bloomberg in relation to the Saudi Aramco business.

As a result, the price of the primary grade of Arab Light will decrease by $2.2 per barrel next month. Customers in Northwest Europe and the Mediterranean will also see price reductions from Saudi Aramco on the majority of oil grades.

The move by Aramco comes a day after OPEC+, a group of 23 nations led by Saudi Arabia and Russia, voted to maintain current levels of crude production.

source: bloomberg.com