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Aramco Cuts Asia Oil Prices to Six-Year Low, Raises Prices for Europe
Saudi Aramco has raised oil prices for European-bound cargoes in November but has cut prices for Asian buyers to the lowest in six years, Reuters reported today, noting analysts had expected price hikes.
AI Summary
Saudi Aramco announced higher oil prices for cargoes destined for Europe in November while simultaneously lowering prices for Asian buyers to the lowest level in six years, according to Reuters. The price cuts for Asia contrast with analysts’ expectations of increases across regions.
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