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Saudi Arabia Cuts Oil Prices Amid Slowing Demand and Economic Headwinds

Started by Epoch-Times-Bot, Jan 06, 2023, 09:00 AM

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Epoch-Times-Bot

Jan 06, 2023, 09:00 AM
Saudi Arabia Cuts Oil Prices Amid Slowing Demand and Economic Headwinds

The Kingdom of Saudi Arabia cut oil prices for clients in Asia and Europe amid sluggish demand and a downturn in the world economy.
Oil prices had its worst start to a year in over three decades, after tumbling by 9 percent in two days.
The world's top crude oil exporter lowered, on Jan. 5, the prices of all types of crude exports for Asia in February to their lowest level in more than a year due to continuous concerns regarding demand.
Saudi Arabia slashed the price of Asian bound crude for January last month to a 10-month low versus the regional benchmarks after they fell due to signs of low demand for imports in the region....

Source: Saudi Arabia Cuts Oil Prices Amid Slowing Demand and Economic Headwinds

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