Sources: Saudi Arabia cuts February crude prices to Asia

The world’s top oil exporter, Saudi Arabia, has cut February’s official selling price (OSP) for all grades of crude it is selling to Asia by at least $1 a barrel, three sources with knowledge of the matter said on Thursday.

The February OSP for the flagship crude is the lowest in three months.

However, the sources said the price cuts were still smaller than industry expectations.

For example, the OSP for Arab Light was expected to have fallen by at least $1.30 a barrel, a Reuters survey showed.