Saudi Arabia Slashes Crude Prices for Asia as Exports Recover
Saudi Arabia, the world's top oil exporter, has sharply cut the price of its flagship crude grade for Asian buyers as flows through the Strait of Hormuz have picked up significantly while buyers face elevated freight costs amid the Iran war.
Saudi Arabia, the world’s top oil exporter, sharply lowered the price of its flagship crude grade for Asian buyers as flows through the Strait of Hormuz have picked up significantly and buyers face elevated freight costs amid the Iran war. State oil company Saudi Aramco said on Sunday it cut the price of the grade, with the move coming as export flows recover.