Saudi Aramco cuts Arab Light price for Asia by $11 a barrel, biggest drop in 26 years
Saudi Aramco slashes Arab Light price for Asia by $11/barrel, the biggest cut in 26 years, to boost demand amid flood of supply. The discount, to $1.50 below the Asian benchmark, follows the easing of Hormuz tensions and OPEC's modest output hike, signaling tougher competition for refiners.