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- Saudi Arabia lowers prices for November oil sales to Asia and the U.S.
Saudi Arabia lowers prices for November oil sales to Asia and the U.S.
Saudi Arabia lowered prices for November oil sales to Asia and the U.S. as the country tries to protect market share despite falling oil prices. The state-owned Saudi Aramco cut the Arab Light crude oil price to Asia by $1.70 a barrel. The company also lowered its Heavy crude oil price by $ 2 a barrel for the Far East, and by $0.30 a barrel for the United States.
Saudi Arabia decided to lower its selling prices after Iran, Iraq and other countries in the Middle East cut its prices the last month.
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