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February 01
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Saudi Arabia will lower prices for most grades of oil for Asian customers in January, the state-owned Saudi Aramco said.

The price of Arab Light, the main grade supplied to Asia, will fall by $2.2 a barrel next month. As a result, it will cost $3.25 a barrel more than a basket of Omani and Dubai crude, the lowest premium since March.

Experts polled by Bloomberg on average expected the Arab Light price for Asia to fall $2.1 a barrel.

Saudi Aramco will also lower prices for most oil grades for Northwest European and Mediterranean customers.

For the US, prices will remain unchanged for the second month in a row.

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