Saudi Aramco has asked its Asian buyers to lift their crude oil offtake in October following sharp price cuts across its oil grades. For example, the “Arab Light” grade was discounted by about $1 to $2.20 per barrel above the Oman/Dubai benchmark. This request comes in the wake of OPEC+ deciding on modest production increases for October. Analysts warn of possible oversupply and potential pressure on oil prices ahead.  

Source: reuters.com