- Saudi Arabia's oil production cuts are impacting the supply landscape and prices of crude oil.
- Prices of heavier grades of crude oil are rallying faster as refineries seek alternatives to the barrels that Saudi Arabia has cut.
- Lighter, sweeter oil remains relatively plentiful.
- Diesel prices have spiked due to concerns about scarce supply.
- Refiners may look further afield for cargoes as supplies tighten in Asia.
Saudi Arabia’s Oil Production Cuts Are Quietly Starting to Bite
The oil market is finally starting to flicker into life — and nowhere is that clearer than in the prices of crude like Saudi Arabia’s, where output cuts are quietly transforming the supply landscape.
Alex Longley
