Saudi Arabia lowered the December official selling prices (OSPs) for the flagship Arab light crude it sells to Asia to plus $5.45 a barrel versus the Oman/Dubai average, the country’s state oil producer Aramco 2222.SE said on Friday.

The top oil exporter set its Arab Light OSP to northwest Europe at $1.70 a barrel against ICE Brent for December and to the United States at $6.35 versus ASCI.

Late last month, trade sources said the country could cut the prices of most crude grades to Asia in December as weaker-than-expected fuel consumption in China amid its strict COVID-19 rules put a lid on regional demand.
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Source: Reuters (Reporting by Swati Verma and Bharat Govind Gautam in Bengaluru; Editing by Leslie Adler and Chris Reese)