Saudi Aramco to lower oil selling price to Europe in February

Saudi Arabia's state-run oil corporation Saudi Aramco has lowered its February Arab light crude oil selling prices to Europe by $2.2 a barrel, Report informs, citing foreign media.

Meanwhile, the oil export prices for Mediterranean countries with supplies due in February will be reduced by $2.9. All the same, the company increased the cost of Saudi oil to the US market by $0.2 a barrel and kept the prices unchanged for Asian consumers.

Saudi Arabia shapes its schedule of supplies based on the consumer's appeal at the start of each month. The Kingdom planned to limit its oil output to 7 mln daily, as part of the OPEC+ deal. Meanwhile, Brent oil was traded for $65.4 at the London exchange ICE on January 2.