Saudi Arabia lowers oil prices around the world

January 08, 2024 | 16:18 |9334

The Saudi state-owned company Saudi Aramco has decided to reduce prices for February supplies of Arab Light oil in all regions amid falling demand, Bloomberg reports.

For supplies to Asian countries, prices were reduced by $1.5–2 per barrel. Prices have also been reduced for northwestern Europe, the Mediterranean and North America.

As a rule, in February and March there is a decrease in oil consumption due to the closure of oil refineries for scheduled maintenance.

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