Saudi Arabia, the largest exporter of oil in the world, has lowered its prices for its export oil for Asian buyers. The decision to reduce prices is connected to increased demand in the region and competition from countries like Libya and Iran. This initiative will help Saudi Arabia maintain its market share in the oil market and continue to lead among the largest global producers.
According to a representative of the Saudi company, this decision was made within the framework of a strategy to support competitive ability in the global oil market. It was also added that Saudi Arabia remains a reliable and stable supplier of oil for all partner countries.
"We constantly monitor changes in demand and offers in the oil market and adapt our pricing policy accordingly to the current situation," noted the representative of the Saudi company.
