Saudi Arabia will probably deepen discounts for crude supplies to Asia after leading OPEC to maintain the group’s output target amid a global battle for market share.
The world’s biggest oil exporter will announce January official selling prices to buyers in Asia this week, after lifting its Arab Light grade from the lowest level in almost six years a month earlier. The largest producer in the Organization of Petroleum Exporting Countries may offer bigger discounts, according to 12 of 13 respondents in a Bloomberg News survey of traders. One participant forecast differentials to be unchanged.
