No Guarantee Saudis to Repeat Price Cut That Drove Oil Lower
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Asian traders are split on whether Saudi Arabia will deepen the crude price cuts that propelled oil into a bear market this month.
State-run Saudi Arabian Oil Co. will announce official selling prices for supplies to buyers in Asia for December next week after cutting prices to the lowest in almost six years for a month earlier. The world’s biggest oil exporter will further discount supplies, according to seven respondents in a Bloomberg survey of traders. Six people forecast prices to be unchanged and two predict an increase.