Demand for Saudi crude in China is rising after Saudi Aramco cut official selling prices for Asia to their lowest level relative to regional benchmarks in more than five years. The company reduced the March official selling price for its flagship Arab Light crude to parity with the Oman/ Dubai benchmark, down $0.30 per barrel from a $0.30 premium in February, marking the fourth consecutive monthly price cut. The move reflects Riyadh’s effort to defend market share in Asia’s largest oil market amid oversupply concerns and continued price competition from discounted Russian crude.