ARAMCO cut its December official selling price for Arab Light to Asia by $2/bbl to a $6.50/bbl discount to the Oman/Dubai average, the lowest level since May 2020. It trimmed December prices to northwest Europe and Mediterranean customers by $1/bbl across grades and left US allocations unchanged; spot premiums for Middle East crude have slid back to pre-conflict levels as exporters raise shipments and, despite recurring tanker attacks in the Strait of Hormuz, exports recover while weaker Asian r

ARAMCO cut its December official selling price for Arab Light to Asia by $2/bbl to a $6.50/bbl discount to the Oman/Dubai average, the lowest level since May 2020. It trimmed December prices to northwest Europe and Mediterranean customers by $1/bbl across grades and left US allocations unchanged; spot premiums for Middle East crude have slid back to pre-conflict levels as exporters raise shipments and, despite recurring tanker attacks in the Strait of Hormuz, exports recover while weaker Asian refining margins curb buying. HSBC raised its Saudi production forecasts, upgrading Q4 output to 8.3 mln bpd from 6.3 mln bpd, lifting its 2027 forecast to 9.8 mln bpd from 8.8 mln bpd and expecting roughly 10.0 mln bpd by mid-2027.