Saudi Aramco Slashes Oil Price to Rare Discount for Asian Buyers

Saudi Aramco has cut its main oil price to a rare discount aimed at Asian buyers, according to Ellen Wald, president of Transversal Consulting. The move is designed to make it worthwhile for Asian clients to charter tankers through the Strait of Hormuz and purchase oil stocks that stagnated during the Iran conflict. Saudi Arabia wants to keep global oil prices stable after profiting from the conflict.