Saudi Aramco has cut pricing for Asian buyer ahead of its focus on Iranian oil , with October Light compared to Asia selling at a $ 0.10 discount per barrel to $ 1.10 above the regional benchmark . The world 's largest oil producer also raised pricing for its Medium and Heavy crudes in Asia , after increasing production to over 10 billion bpd . In contrast , Aramco raised pricing to Northwest buyers and the Mediterranean , as well as the US , in October for all grades
Saudi Aramco has cut pricing for Asian buyer ahead of US sanction on Iranian oil, with October Light crude to Asia selling at a $0.10 discount per barrel to $1.10 above the regional benchmark. The world's largest oil exporter also cut pricing for its Medium and Heavy crudes in Asia, after increasing production to over 10 million bpd. In contrast, Aramco raised pricing to Northwest Europe and the Mediterranean, as well as the US, in October for all grades