Saudi Arabia Reduces Arab Light Crude Price for Asia

Informed sources have reported that Saudi Arabia, the world's largest oil exporter, has lowered the price of its benchmark Arab light crude for Asian customers in February to its lowest level in 27 months. The sources stated that Saudi Aramco has reduced the official selling price of Arab light crude for loading in February by two dollars per barrel from January to 1.50 dollars per barrel above Oman/Dubai prices.