Oil tanks seen at the Saudi Aramco headquarters during a media tour at Damam city November 11, 2007. World’s top crude exporter Saudi Arabia cut April prices of light crude it sells to Asia for the first time in three months in a bid to shore up demand in an oversupplied market, trade sources said on Friday. The OPEC kingpin raised prices for two straight months to March after production cuts by the Organization of the Petroleum Exporting Countries and Oman strengthened Middle East oil benchmark Dubai, but it unexpectedly cut prices in April as oversupply of light crude persisted. The April (OSP) for Arab Light was set at the low end of forecasts in a Reuters survey and the 75 cent cut for Arab Extra Light was deeper than expected. Saudi Aramco took into account other factors such as a stronger Oman-Dubai benchmark and recent sharp declines in […]