Saudi Aramco has lowered oil prices in Asia after OPEC+ agreed to delay an output increase for three months. The state-owned oil company will sell Arab Light crude at a premium of 90 cents per barrel in January, down from $1.70 this month. This move is a result of the weak market outlook and follows previous delays by the OPEC+ group. The reduction in premium reflects Saudi Arabia’s efforts to stimulate demand for its oil in Asia.
Source: https://www.bloomberg.com/news/articles/2024-12-08/saudi-arabia-cuts-oil-prices-after-opec-delays-reviving-output