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Saudi Arabia may cut crude prices for Asian buyers
- Saudi Arabia: Sunday, February 03 - 2013 at 02:08
Oil industry sources said Saudi Arabia may lower its official selling prices for all crude grades for its Asian buyers in March on expectations of weaker demand due to refinery maintenance and warmer weather, Reuters has reported. OSPs for Arab Light and Arab Medium are expected to drop by a dollar per barrel, while Arab Heavy and Arab Extra Light may be cut by 65 cents and 90 cents each, according to the median of estimates from six traders and refiners. "The weak Dubai time-spreads and refinery turnarounds will be the main factors affecting OSPs," a trader with a western oil major told the news service.
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