Saudi Aramco Cuts December Asian Crude Prices to Lowest Level Since May 2020.
Arab Light price is cut by $2 per barrel to a discount of $6.50 against the Oman/Dubai benchmark.
Prices for Northwest Europe and Mediterranean customers are also reduced by $1 per barrel, while US prices remain unchanged.
Weaker Asian refining margins and recovering crude exports are driving the price cuts.
HSBC expects Saudi oil production to rise to 8.3 million barrels per day in Q4 2026 and reach around 10 million bpd by mid 2027.
Arab Light price is cut by $2 per barrel to a discount of $6.50 against the Oman/Dubai benchmark.
Prices for Northwest Europe and Mediterranean customers are also reduced by $1 per barrel, while US prices remain unchanged.
Weaker Asian refining margins and recovering crude exports are driving the price cuts.
HSBC expects Saudi oil production to rise to 8.3 million barrels per day in Q4 2026 and reach around 10 million bpd by mid 2027.