Saudi Arabia cut June crude prices for Asia
The cut is less than the market expectation of 40 cents
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The cut is less than the market expectation of 40 cents
Saudi Arabia, the world's top oil exporter, has cut the price of its June flagship crude to Asian buyers for the first time in four months, following a plunge in refining margins.
OPEC+ output cuts created an ideal scenario for Middle East producers to hike OSPs, but ongoing demand concerns could force them to cut prices in June
The price increase follows a production cut from OPEC+, which is expected to tighten the supply from the Middle East.
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