Saudi Arabia cuts oil price
This is the biggest price reduction in five months and is caused by, according to Reuters, the fact that demand has yet to return following the outbreak of Covid-19.
BY RITZAU FINANS
Monday morning's oil market is hit by a price decline as Saudi Arabia lowers its official rates on crude deliveries to Asia. This marks the largest cut seen in five months and, according to Reuters, is due to demand remaining at subpar levels due to the Covid-19 pandemic.
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