Kuwait Offers Biggest Oil Discount to Asia Since 2008
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Kuwait is offering Asian buyers the largest discount for oil in six years, joining Saudi Arabia and Iraq in lowering prices.
Kuwait Petroleum Corp., the state-run oil company, will sell its crude at $3.95 a barrel below the regional benchmarks next month, the company said in a faxed statement yesterday. That’s the biggest discount since December 2008, data compiled by Bloomberg show. It was $2.10 this month.