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Saudi Aramco cuts Asia oil prices to six-year low in November

Aramco offered Arab Light at a discount of $5 per barrel to the Dubai Oman benchmark for Asian buyers, Reuters said.

Reported · Written up by our desk · Energy

Saudi Aramco is set to cut oil prices for Asia-bound cargoes in November to the lowest level in six years, while raising prices for Europe-bound shipments, according to Reuters as cited by OilPrice.

For Asian buyers, Aramco will price Arab Light at a $5 per barrel discount to the Dubai Oman benchmark next month, the report said.

The article also notes the cut runs to the level Reuters reported as the lowest in six years, and it references that analysts had expected price increases.

OilPrice’s report frames the move as a shift in Aramco’s regional pricing, with Europe getting higher prices and Asia seeing larger discounts.

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