Saudi Arabia Cuts Oil Price to Asia as Iran Battle Heats Up

By
Sam Wilkin
  • Market share battle ‘back in a big way’: John Kilduff
  • Extra Light, Light pricing for U.S. clients also reduced

Saudi Arabia Fights for Oil Market Share Amid Low Demand

Saudi Aramco, the world’s largest oil exporter, lowered the pricing terms for Arab Light crude sold to Asia by the most in 10 months, signaling Saudi Arabia has no plans to back down while OPEC rival Iran tries to regain market share amid a global oversupply.

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