Saudi Aramco cuts oil prices for Asia to 5-year low
Saudi Aramco is dropping oil prices for Asia for the fourth month straight.
For March 2026, their main Arab Light crude will match the Oman/Dubai average, ditching last month's $0.30 premium.
This puts prices at their lowest since late 2020, as global supply keeps outpacing demand.
Prices for all grades down in US, Europe, Mediterranean
It's not just Arab Light—Arab Medium and Heavy crude to Asia are down by $0.40 per barrel, hitting their lowest levels since mid-2020, while Extra Light and Super Light are actually up by $0.20 per barrel.
Prices for all grades are also down in the US, Europe, and the Mediterranean.
OPEC+ to keep output steady amid rising US supply
OPEC+ is keeping oil output steady for March amid increased supplies from producers in the Americas, including the US and Guyana.
Even with these price drops being smaller than some expected, Saudi Arabia seems unfazed—Brent crude was trading above $68 a barrel on February 6, 2026—showing they're ready to ride out this competitive stretch in the global market.