Saudi Arabia cut its oil costs last week to boost margins for refinery clients and the move didn’t signal the start of a price war, according to a person familiar with the nation’s oil policy. Some refineries in Asia couldn’t process Saudi Arabian crude profitably, according to the person, who asked not to be identified, citing policy. Brent crude, a global benchmark, fell 20 percent since June amid signs of a supply glut. State-owned Saudi Arabian Oil Co. cut prices for all grades and to all regions for November shipments, reducing those for Asia to the lowest level since 2008. Commerzbank AG and Citigroup Inc. were among those who said the cuts might be the start of a price war. To contact the reporter on this story: Wael Mahdi in Manama at To contact the editors responsible for this story: Alaric Nightingale at