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Reuters: Saudi Arabia may cut Asian oil prices in August
A survey conducted by Reuters agency expects Saudi Arabia to lower its oil prices for Asia to the lowest level in four months, with the premium on Dubai and Oman grades ranging between $1.5 and $3 per barrel. The Dubai grade discounts have also narrowed to $1.64 per barrel, the lowest in six years. This decline in regional crude prices is reflected by increased oil offers from the UAE, Iraq, and Qatar, as well as Iran's strong export forecasts, amid waning demand from Chinese buyers.
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