Saudi Arabia Poised to Cut Oil Prices for Asia Amid OPEC+ Output Rise

Increasing supply and weaker Middle Eastern benchmark prices will likely prompt Saudi Arabia to cut the official selling prices for its crude loading for Asia in December, but a scramble for non-Russian supply in India and China could limit the price reductions. Saudi Arabia, the world’s to crude exporter, is expected to cut the official selling price (OSP) of its flagship Arab Light crude for Asia for December by between $1.20 and $1.50 per barrel, according to a Reuters survey of Asian refining sources ...