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Saudi Arabia cuts February Arab Light crude prices to Asia

LONDON: Saudi Arabia lowered the February official selling prices for the flagship Arab light crude it sells to Asia to plus $1.80 a barrel versus the Oman/Dubai average, the country’s state oil producer Aramco said on Thursday. The price is $1.45 a barrel less than the January OSP. The top oil exporter set its Arab Light OSP to northwest Europe at minus $1.50 a barrel against
Saudi Arabia United States City Of United Kingdom Arab Light Colonial Pipeline

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Oil rebounds after biggest drop in decades at start of year

Oil rebounded on Thursday after posting the biggest two-day loss for the start of a year in three decades with the shutdown of a US fuel pipeline providing support, though economic concerns capped gains. Big declines in the previous two days were driven by worries about a global recession, especially since short-term economic signs in the world's two biggest oil consumers, the
United States Tamas Varga Energy Information Administration American Petroleum Institute Colonial Pipeline Texas Intermediate

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