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Gulf Oil Exporters Slash Prices as Buyers Gain the Upper Hand

Gulf oil producers are in a race to offer discounts to entice buyers, with Saudi Arabia’s latest price cut for Asian importers the sharpe…

Source OilPrice AI Summary Updated 4h 42m ago

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Gulf oil producers are in a race to offer discounts to entice buyers, with Saudi Arabia’s latest price cut for Asian importers the sharpest in decades but unlikely to boost sales. Saudi Arabia yesterday cut its official selling price for crude to Asian buyers by as much as $11 per barrel, Reuters reported, but other Gulf exporters are cutting even deeper in…

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