Saudi oil price cut to offer India room for better deals

Saudi Aramco on Sunday cut OSP (official selling price) of flagship Arab Light crude for Asia to their lowest in 27 months - a move that can work well for India if it prompts oil to slide further to boost prospects of cheaper fuel for consumers and keep the energy import bill from bloating. Aramco slashed the OSP by $2 per barrel for February shipments, marking the second consecutive reduction after $1.5 per barrel discount announced in December for January loading.

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