11:58 - 17.02.2026

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February 17, Fineko/abc.az. Aramco has reduced the price of crude oil Arab Light to its lowest level since the end of 2020 due to concerns about global oversupply. Even so, the price turned out to be higher than the expectations of Asian traders and refineries, but the decline made Saudi oil more attractive compared to competitors in the region.

ABC.AZ reports that the selling price of Arab Light is set at a premium or discount to the Oman/Dubai regional benchmarks. Since October, Arab Light's premium to the basket has dropped from $2.2 per barrel to zero, which is the first time since January 2021.

In March, Indian refineries will receive at least 1 million barrels more than usual under long-term contracts, while South Korean and Japanese refineries will also increase supplies. Oil exports may also increase from Iraq, which operates on the spot market.