Saudi Aramco Cuts November Arab Light Crude Price to Asia by $3

Saudi Aramco reduced its November official selling price for flagship Arab Light crude to Asia by $3 a barrel, setting it at a $5 discount against the Oman/Dubai benchmark average. The cut marks the widest discount for Asian buyers since June 2020 and defies market surveys predicting increases of up to $5. Aramco also lowered Arab Medium and Arab Heavy OSPs to Asia by $5 per barrel. Meanwhile, the state producer raised prices for Northwest Europe and the Mediterranean by $3 across all grades and kept US prices unchanged.