IT’S always tempting to try and overanalyse changes in the crude oil market and Saudi Arabia’s decision to cut its official prices for Asian customers to the lowest level in four years is one such example.
Saudi Aramco, the state-controlled oil company of the world’s largest oil exporter, said on Sunday it is lowering the official selling prices (OSPs) for refiners in Asia, which buy about 70% of the kingdom’s crude.
