Saudi Aramco

Industry News

US Mulls Iran Moves Amid Hormuz Shipping Standoff and Aramco Strikes

China Daily reported that the United States is evaluating follow-up military strategies regarding Iran following a reported Camp David meeting, as Iran enforces a shipping blockade in the Strait of Hormuz. Iranian media reported that seven oil tankers were targeted in the waterway over five days, while Yemen's Houthi group claimed missile and drone attacks on Saudi Aramco oil facilities in Riyadh and Khurais.

Industry News

Saudi Arabia Cuts November Oil Prices to Asia to Six-Year Lows

Saudi Aramco has unexpectedly reduced its official selling prices for crude oil delivered to Asia in November to six-year lows. The flagship Arab Light grade was priced at a 5-dollar-per-barrel discount to the Oman and Dubai benchmark average, marking a 3-dollar reduction from October. Asian refining sources indicated the price cuts appear intended to offset elevated freight costs and safeguard export market share.