Riyadh – Mubasher: Saudi Arabian Oil Co, known globally as Saudi Aramco, has reduced the price of Arab Light grade for Asia in April by 55 cents versus the month before to a premium of $1.10 a barrel to the Oman/Dubai average, informed source said on Monday.
"The cut was in line with market expectations," according to a Reuters survey, after demand for Middle East crude fell in March's trade, Reuters reported, citing the sources as saying.
The Middle Eastern oil giant also cut its Arab Light official selling price (OSP) to Northwest Europe by $1.40 for April from the previous month at a discount of $3.15 a barrel to ICE Brent.
