In May, Saudi Arabia will reduce prices for all grades of oil for Asian buyers by $2.3 per barrel – the maximum since October 2022.
As a result, the main grade supplied to Asia – Arab Light – will fall to its lowest price in 4 months. It will cost $1.2 more than the Oman/Dubai oil basket, state-owned Saudi Aramco said in a statement. Prices for all oil grades for the U.S. will be reduced by $0.2 per barrel, for buyers from Northwest Europe and the Mediterranean – by $0.5 per barrel.
