Saudis Cut Oil Prices for Asia as Virus Clouds Energy Market
- Aramco drops price of key Arab Light grade for Asia customers
- State firm also reduces pricing for all grades sold to U.S.
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Saudi Arabia cut most oil pricing for its customers in Asia and the U.S. as a resurgence in the coronavirus clouds the outlook for energy markets.
State producer Saudi Aramco decreased December pricing for shipments of key Arab Light crude to Asia, its largest regional market, by 10 cents a barrel to a 50-cent discount to the benchmark.