MOSCOW, January 7. Saudi Arabia will reduce oil prices for buyers in all regions, including the key Asian market for Riyadh, Bloomberg reported.
According to media reports, Saudi Aramco will reduce the cost of Arab Light fuel by one and a half to two dollars per barrel. The oil giant also discounted February deliveries to Northwestern Europe, the Mediterranean and North America.
“Oil consumption typically drops in February and March. Refineries use this period to shut down some plants for maintenance,” it said. in the message.
World oil prices fell in 2023 for the first time since 2020. The market has so far ignored concerns about the war between Israel and Hamas. The Houthi strikes in the Red Sea have also not yet led to supply disruptions and consumer market concerns.