Saudi Arabia’s Aramco has cut again official selling prices for its crudes destined for U.S. markets.
For November supply, the price of Arab Extra Light and Light crudes were reduced by 10c/bbl, while Arab Medium and Heavy crude prices were lower 20c/bbl. See table below for more details. Each grade is priced as a differential to Argus Sour Crude Index (ASCI).
Despite the repeated round of cuts, alternatives grades such as those from Western Canada and Iraq are seen as more competitive, according to traders.
