Aramco slashes oil prices in Asia despite historic deal

INTERNATIONAL FINANCE | Saudi Arabia-based state-owned oil behemoth Aramco has slashed its selling price in Asia despite agreeing to a historic deal to cut production and end the oil price war, the media reported. Aramco slashed its selling price for its buyers in Asia by $4.20 per barrel. Interestingly, Aramco raised its selling price for its buyers in the US and Europe. The decision highlights Aramco’s ambition to continue dominating the market in Asia, where it sells most of its oil.


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