Saudi Aramco has cut the January price for its Arab Light crude for Asian customers to the lowest in four months as it holds to a strategy of preserving market share in the world’s fastest-growing demand center. The price cuts are meant to ensure that Aramco can still sell more oil into Asia even after going along with the OPEC-Russia deal to cut output. The Saudis have been struggling over the last two years to fight off increased competition from other producers in the Middle East, Russia and the Atlantic Basin. Saudi Aramco said on Tuesday it cut the price of Arab Light crude sales to Asia by $1.20 a barrel versus December to a discount of $0.75 a barrel to the Oman/Dubai average. January’s price cuts of $0.60-$1.50 across all Saudi […]