Page 45 - Arab Light News Today

Top oil exporter Saudi Arabia may cut the prices of most crude grades to Asia in December as weaker-than-expected fuel consumption in China

SINGAPORE: Top oil exporter Saudi Arabia may cut the prices of most crude grades to Asia in December as weaker-than-expected fuel consumption in China amid its strict COVID-19 rules put a lid on regional demand, trade sources said. State oil giant Saudi Aramco may lower the official selling price for its flagship Arab Light crude by about 30 to 40 cents per barrel in December,

While the OPEC+ output cut would warrant a further hike in OSPs, recession fears continue to spook traders and producers alike, and especially Middle East producers are cautious when it comes to aggressive price hikes

Saudi Arabia and China have stressed the need for long-term stability in oil supplies after energy officials of the two countries met

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

Expert regional analysis by MEI scholars and contributors.

The Biden Administration’s efforts to keep OPEC+ from cutting production once again have failed, and despite the anger in Washington, a NOPEC bill might not be productive for the U.S.

The full concession of oil supply comes despite the decision by the Organisation of the Petroleum Exporting Countries

Saudi Aramco will not cut the oil volumes it exports to clients in North Asia when it cuts production in November

Oil prices fell on Monday, paring gains from the previous session, as fears of a global recession weighed on the market even as supply remains tight amid lower OPEC output, unrest in Libya and