Riyadh (Lord Media): Saudi Arabia has announced a significant reduction in oil prices, stating that its state oil company, Aramco, will decrease the price of its Arab Light crude oil for Asia by 11 U.S. dollars per barrel next month. This reduction will make the oil available at a discount of 1.50 U.S. dollars per barrel compared to the regional benchmark.
According to a Bloomberg report, this reduction exceeds the anticipated 8 U.S. dollars per barrel decrease forecasted in a Bloomberg survey.
