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Saudis Face Pricing Dilemma as Oil War Enters Second Month

  • Kingdom to release official selling prices for May on Sunday
  • Asian refiners say ample alternative supplies are available
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Vanishing demand and alternative grades at never-seen-before prices are fueling expectations that Saudi Aramco will need to price its crude at aggressively low levels this month to keep its customers satisfied.

The world’s biggest oil exporter is due to announce its official selling prices for May shipments this Sunday. It comes a month after the kingdom discounted April supplies by the most in at least 20 years as it embarked on a price war with Russia that sent oil markets into a tailspin.