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Saudis Cut Oil Prices After OPEC+ Restraint Fuels Rally

  • Aramco trims prices for Asia, U.S. after OPEC+ sticks to plan
  • Oil jumped this week after OPEC+ stuck to slow output hikes
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Saudi Arabia reduced oil prices for its main buyers, a day after OPEC+ sent crude futures surging by sticking to a plan for slow and steady supply increases.

State firm Saudi Aramco’s cuts for customers in Asia, Europe and the U.S. may take some of the sting out of that jump for refiners and other consumers at a time when a global gas shortage is pushing up demand for crude among power producers.