(Jan 9): Crude oil sales from Saudi Arabia to East Asia are set to persist above usual levels after the world’s biggest exporter cut prices for a third month on signs of oversupply in the market. That makes Saudi oil cheap enough to compete against other so-called spot grades, such as those from nearby Abu Dhabi, traders said. China, the biggest importer of Saudi crude, bought about 48 million barrels for loading next month. That’s down slightly from roughly 49 million to 50 million barrels for January. In the wider Middle East crude market, there’s pervasive weakness among sellers of spot crude including the United Arab Emirates and Qatar.

Source: The Edge Markets January 09, 2026 07:37 UTC