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Saudi Arabia cut oil prices for Asia, signaling that demand in its main market remains sluggish, as economies slow and coronavirus cases in China surge. Saudi Arabia sells most of its oil under long-term contracts to Asia, pricing for which is reviewed each month, with China, Japan, South Korea and India being the biggest buyers.

Saudi Arabia Cuts Oil Prices For Main Market As Demand Slows

Saudi Arabia cut oil prices for Asia, signaling that demand in its main market remains sluggish, as economies slow and coronavirus cases in China surge. Saudi Arabia sells most of its oil under long-term contracts to Asia, pricing for which is reviewed each month, with China, Japan, South Korea and India being the biggest buyers.

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