SAUDI CUT PRICES
REUTERS - World's top crude exporter Saudi Arabia cut April prices of light crude it sells to Asia for the first time in three months in a bid to shore up demand in an oversupplied market, trade sources said on Friday.
The OPEC kingpin raised prices for two straight months to March after production cuts by the Organization of the Petroleum Exporting Countries and Oman strengthened Middle East oil benchmark Dubai, but it unexpectedly cut prices in April as oversupply of light crude persisted.
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