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Saudi Arabia unexpectedly cuts November oil prices to Asia to 6-year lows
Saudi Arabia unexpectedly cut its oil prices for sale to Asia in November to six-year lows while raising them for northwest Europe and the Mediterranean, a pricing document showed on Monday. The largest Middle Eastern crude exporter set the November Arab Light crude oil official selling price to Asia at $5 a barrel below the average of Oman and Dubai prices, down $3 from the previous month. The discount for November is the widest since June 2020, Reuters data showed. This was against expectations of a hike of up to $5 a barrel for the November OSP in a Reuters survey, in line with gains seen i...
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