Saudi Arabia lowered May crude oil prices for Asian buyers to a four-month low after OPEC+ unexpectedly announced an output increase. State-owned Saudi Aramco reduced the official selling price of Arab Light by $2.30 to $1.20 per barrel above the Oman-Dubai average, according to a pricing document released on Sunday. Prices for other grades sold to Asia were also cut by $2.30 per barrel. This marks Aramco's second consecutive monthly price reduction, aligning with falling benchmark prices and weaker Dubai crude premiums. The move follows OPEC+'s surprise decision on Thursday to raise output by 411,000 barrels per day in May, accelerating the rollback of production cuts and adding pressure on global oil prices. Attribution: Reuters Subediting: M. S. Salama
