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Saudis Slash Main Oil Price to Rare Discount
Posted
July 6, 2026
Views
8,778
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July 6, 2026
8,778
118
20
1.57%
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6:10Now PlayingEllen Wald, president of Transversal Consulting and Author of 'Saudi, Inc.,' said that Saudi state oil producer Saudi Aramco is lowering the price of oil to make it worthwhile for Asian buyers to charter a tanker to go into the Strait of Hormuz and to buy up stores of oil that have laid stagnant during the war. Wald said that while Saudi Aramco made money off of the conflict in Iran, they want the keep oil prices stable.
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