Singapore—Saudi Aramco’s decision to cut the official selling prices of its May-loading crude to Asian customers will pave the way for other Middle East producers to follow suit, continuing a tussle for market share initiated by Aramco in March, trade sources said. Aramco on Monday slashed its Asia-bound May OSPs by $2.95- $5.50/b from the prior month, exceeding expectations of $2-$3/b cuts per an S&P Global Platts survey this month.
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