It is reported that Saudi Arabia will reduce the selling price of Asian crude oil in December.

GoldenOctober2024

2024-11-01 06:01:15

Jinshi Data News on November 1st, sources said that due to weak Dubai oil prices, Saudi Arabia may lower the price of most of its crude oil sold to Asia in December. Saudi Arabia’s drop in oil prices will indicate weak demand and provide more evidence for OPEC+'s plan to postpone production increase in December. A survey of six sources showed that the official selling price of Arab light crude oil in December may drop by 30-50 cents per barrel from last month. The premium of Middle East crude oil Spot fell last month due to sufficient supply in the Asian market, while the demand of major buyers remained weak, despite a rebound in refining margins.

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