Oil prices dive to lowest point since 2021 as OPEC cuts demand forecast
OPEC’s decision to lower its demand growth forecast underscores the shifting dynamics in the oil market.
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Oil prices retreat on Saudi cuts and OPEC surge despite Middle East tensions
In response to heightened supply and competitive pressures from rival producers, Saudi Arabia took action on Sunday by implementing substantial cuts to the February official selling price (OSP) of its flagship Arab Light crude to Asia.
Saudi Arabia slashes crude prices to 27-month low through global oil supply concerns
Saudi Aramco's decision to lower prices comes from increased competition from rival oil suppliers and growing apprehensions about a potential oversupply in the global oil market.