Saudi Aramco Slashes November Oil Prices for Asia to Multi-Year Lows

Key Facts

1Saudi Aramco unexpectedly slashed its official selling prices (OSP) for Arab Light crude for November to Asian customers.

2Oil prices for Asia reached multi-year lows while rates for Europe were reportedly raised.

Saudi Aramco unexpectedly slashed its official selling prices (OSP) for Arab Light crude for November to Asian customers. Seeking Alpha reported that oil prices for Asia reached multi-year lows, while rates for Northwest Europe and the Mediterranean were reportedly raised.

The move is viewed as an adjustment to maintain market share in Asia, the primary market for the Saudi exporter, amid shifting global demand patterns and competition. In related energy market context, previous data from the American Petroleum Institute (API) showed a crude oil stock increase of 1.019 million barrels on September 29, 2026.