Saudi Arabia Cuts Oil Prices for Asia as OPEC+ Output Inches Up

Saudi Arabia just dialed back its crude prices for Asia, according to Aramco’s just-published rate sheet. The company has trimmed official selling prices (OSPs) for the first time in three months, with Aramco’s April price sheet now showing Arab Light at $3.50 per barrel over Oman/Dubai, a 40-cent cut. That’s after last month’s price spike, driven by U.S. sanctions squeezing Russian supply. But with OPEC+ greenlighting a 138,000 bpd production increase for April—the cartel’s first hike since 2022—Riyadh…