Saudi oil price cut unlikely to convince sated Asia buyers, traders say

Saudi Arabia cut Asia-bound crude prices by the largest amount in over two decades, but the grade remains more expensive to lift than competing Gulf supplies. The relative cost disadvantage is expected to curb Asian buying appetite for Saudi/OPEC-linked barrels despite the headline discount.

Analysis

Saudi Arabia cut Asia-bound crude prices by the largest amount in over two decades, but the grade remains more expensive to lift than competing Gulf supplies. The relative cost disadvantage is expected to curb Asian buying appetite for Saudi/OPEC-linked barrels despite the headline discount.