Saudi cut threats fail to boost oil prices as slump runs to four days
Oil prices are falling for a fourth straight day amid ongoing uncertainty over Saudi cuts and high US production.
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Oil prices are falling for a fourth straight day amid ongoing uncertainty over Saudi cuts and high US production.
Saudi Arabia slashed its official crude oil selling prices to Asia by the most since February.
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Weak demand and rising inventories could prompt Saudi Arabia to lower the price of Arab Light for Asian customers for the first time in seven months.
Saudi Arabia is expected to cut its official selling price for crude to Asian buyers due to higher competition from non-Middle Eastern oil since the OPEC production cuts.