Saudi Arabia, the leading oil exporter, is considering trimming the price for its flagship Arab Light crude to Asia for the first time in seven months. Despite an extension of voluntary supply cuts by OPEC+, Saudi Aramco might reduce the January official selling price (OSP) for Arab Light by around $1 to approximately $3 a barrel over the Oman/Dubai average. This potential price adjustment reflects market dynamics characterized by ample supply, sluggish demand, and the need for Saudi Arabia to secure its market share.

SOURCE:GOOGLE