The Kingdom reduces oil prices for Asian exports as competition intensifies following the UAE's exit from OPEC.
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Saudi Arabia has cut crude oil prices for Asian exports, amid intensifying competition stemming from the United Arab Emirates' withdrawal from OPEC.
The development reflects shifting dynamics in global energy markets, with the UAE's exit affecting the balance of prices and supplies.
Saudi Arabia is seeking to maintain its market share in Asia in the face of rising competitiveness among oil producers.