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Saudi Arabian state-owned petroleum and oil-trade company
Saudi Aramco, officially the Saudi Arabian Oil Company, is a majority state-owned petroleum and natural gas company, and the national oil company of Saudi Arabia. As of 2024, it is the fourth-largest company in the world by revenue and is headquartered in Dhahran. Saudi Aramco has both the world's largest proven crude oil reserves, at more than 270 billion barrels, and largest daily oil production of all oil-producing companies.
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Company to sell Arab Light crude to Asian customers at discount of $5 a barrel below regional benchmark for November
Saudi Aramco cut November Arab Light prices for Asia to the lowest in six years and raised them for Europe as Hormuz freight costs hit a record.