New York—Saudi Aramco on Thursday cut its official selling prices for crudes loading in March and bound for Asia by 40-90 cents/ barrel, in order to stay competitive with the abundance of crude available to Asian buyers, Platts analysis showed. Month on month, the price cuts may not have been particularly deep, but Saudi Aramco has been lowering its prices steadily since June, following a roughly 50% drop in benchmark crude prices. March’s OSP differentials for both Arab Extra Light and Arab Light are the lowest since at least 1989, according to Platts data, while Arab Medium is currently priced at its lowest level since mid-2008.
展开▼
