Saudi Arabia reduced oil prices for Asia and Europe

Saudi Aramco state -owned company reduced the prices for a key oil variety for Asia in January by 2.20 – 3.25 dollars per barrel. Such a step, according to analysts, testifies to weak regional demand, foreign media write.

Saudi Aramco also reduced the prices for deliveries to northwestern Europe and the Mediterranean region. Thanks to this, the costs and for customers from the United States remained unchanged.

Saudi Arabia sells about 60% of raw oil exports to Asia for long -term contracts, the prices of which are revised monthly. The largest buyers are China, Japan, South Korea and India.