Saudi Arabia cuts oil price to Asia as battle with Iran heats up
The biggest cut was by $1.60 for Extra Light crude
Dubai: Saudi Aramco, the world’s largest oil exporter, lowered the pricing terms for Arab Light crude sold to Asia by the most in 10 months, signalling Saudi Arabia has no plans to back down while Opec (Organisation of the Petroleum Exporting Countries) rival Iran tries to regain market share amid a global oversupply.
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