Saudis Cut Main Oil Price for Asian Buyers as Crude Glut Looms
Saudi Arabia dropped the price of its main oil grade for buyers in Asia to the lowest in years, a further sign that global supplies are running ahead of demand.
By Anthony Di Paola, Alex Longley, Sherry Su ยท Bloomberg Markets
Saudi Arabia dropped the price of its main oil grade for buyers in Asia to the lowest in years, a further sign that global supplies are running ahead of demand.