The state producer set Northwest Europe prices at $0.85 above ICE Brent and US prices at $4.60 above ASCI for the same period. The price reduction for Asian buyers was unexpected, as reported by Reuters, reflecting intensified competition between oil producers in the region.
Tuesday, October 20, 2026
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Saudi Aramco Cuts Asia Oil Price to 6 Year Low
Commodities16 days ago
Benchmark crude destined for Far East ports will be sold at $5 below the Oman/Dubai index in November. Saudi Aramco lowered the price of its Arab Light grade by $3 per barrel from October to reach a six year low, a move driven by increased oil flows through the Strait of Hormuz and a race for market share among Persian Gulf exporters.
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