Saudis Make Biggest Oil Price Cut in Decades as Market Weakens

Saudi Arabia cut the price of its main crude grade for customers in Asia in August by the most in at least 26 years, as a surge of global supply...

By Yongchang Chin, Alfred Cang, Anthony Di Paola · Bloomberg Markets

Saudi Arabia cut the price of its main crude grade for customers in Asia in August by the most in at least 26 years, as a surge of global supply heightens competition for buyers.