Oil tanks seen at the Saudi Aramco headquarters during a media tour at Damam city November 11, 2007. Sometimes actions really do speak louder than words, with Saudi Arabia’s slashing of crude oil prices to customers in Asia contrasting with recent comments from the kingdom’s top oil executive that chasing market share isn’t a priority. Saudi Aramco, the state-controlled oil company, cut its official selling price (OSP) for its benchmark Arab Light grade for September-loading cargoes by $1.30 a barrel to a discount of $1.10 to the regional marker Oman-Dubai. The reduction was the largest since October last year and has taken the OSP from a premium of 60 cents a barrel to the biggest discount in nine months in just two months. Saudi Aramco doesn’t release commentary with its pricing statement and doesn’t officially comment on its policy in setting the OSP, but the actions of the past […]