Saudi Arabia Slashes Oil Prices For Asia To 6-Year Low: What It Means For India

Saudi Arabia has unexpectedly reduced oil prices for Asia to a six-year low. The November selling price is now established at $5 below the averages for Oman and Dubai. This price cut was unforeseen and lower than the predictions previously made by analysts. The move significantly impacts the region, specifically affecting India, as the kingdom implements these unexpected reductions in the cost of oil exports to Asian markets according to reports from Reuters.