Saudi Arabia slashes August oil prices for Asia in biggest cut in decades
Saudi Arabia has implemented its largest oil price cut for Asian buyers in at least 26 years, signaling a strategic move to defend market share amid a weakening global market and rising supply.
July 07, 2026 (MLN): Saudi Arabia has implemented its largest oil price cut for Asian buyers in at least 26 years, signaling a strategic move to defend market share amid a weakening global market and rising supply. State-owned oil giant Saudi Aramco announced it will slash the official selling price of its flagship Arab Light crude to Asia for August shipments, as reported by Bloomberg. The price will dr...