# Oil falls after Saudi cuts prices, China slows imports

> Oil prices fell on Monday after Saudi Arabia made its deepest monthly cut to Asian supply prices in five months. Chinese crude imports also slowed in August, adding to uncertainty over demand. Brent traded near $42 and WTI near $39 per barrel.

- Date: 2020-09-07 · published 2020-09-07T12:00:00.000Z
- Category: trade · region Asia · magnitude medium
- Page: https://feedsoft.ai/events/7475-oil-falls-after-saudi-cuts-prices-china-slows-imports
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Saudi price cuts signal weaker Asian demand, and slower Chinese buying removes a key support for crude. Lower crude prices weigh on energy costs and biofuel feedstock values.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2020-09-07 | 1 | -3.9% | -4.1 | Saudi Arabia's deepest monthly cut to Asian selling prices in five months and slower Chinese crude imports signaled weak demand, directly pressuring Brent on Sept 7. |
| BRENT | 2020-09-08 | 1 | -6.0% | -3.6 | The Saudi cut to Asian prices and slower Chinese imports signaled weak demand and were the catalyst for the following session's drop. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2020-09-08 | [Oil prices stumble, hit June lows on Saudi price cut, COVID flare-ups](https://feedsoft.ai/events/7472-oil-prices-stumble-hit-june-lows-on-saudi-price-cut-covid-flare-ups.md) | -6.2% | -2.7% |
| BRENT | 2019-05-31 | [Oil Prices Slide on Trade Tensions and China Fears](https://feedsoft.ai/events/9884-oil-prices-slide-on-trade-tensions-and-china-fears.md) | -8.8% | -2.2% |
| BRENT | 2019-05-24 | [MARKET WATCH: Oil prices tumble after US-China news \| Oil & Gas Journal](https://feedsoft.ai/events/9796-market-watch-oil-prices-tumble-after-us-china-news-oil-and-gas-journal.md) | -3.6% | -3.6% |
| BRENT | 2018-04-06 | [US oil closes 2.3% lower after Trump's latest China trade threats](https://feedsoft.ai/events/10843-us-oil-closes-2-3-lower-after-trump-s-latest-china-trade-threats.md) | +6.4% | +9.1% |
| BRENT | 2019-06-03 | [Oil falls as trade worries mount, Saudi comments limit losses](https://feedsoft.ai/events/11307-oil-falls-as-trade-worries-mount-saudi-comments-limit-losses.md) | -2.9% | +2.1% |
| WTI | 2020-09-08 | [Oil prices stumble, hit June lows on Saudi price cut, COVID flare-ups](https://feedsoft.ai/events/7472-oil-prices-stumble-hit-june-lows-on-saudi-price-cut-covid-flare-ups.md) | -6.2% | -1.4% |
| WTI | 2019-05-31 | [Oil Prices Slide on Trade Tensions and China Fears](https://feedsoft.ai/events/9884-oil-prices-slide-on-trade-tensions-and-china-fears.md) | -6.9% | +4.9% |
| WTI | 2019-05-24 | [MARKET WATCH: Oil prices tumble after US-China news \| Oil & Gas Journal](https://feedsoft.ai/events/9796-market-watch-oil-prices-tumble-after-us-china-news-oil-and-gas-journal.md) | -2.1% | -1.6% |

## Sources

- asiafinancial.com: https://www.asiafinancial.com/oil-falls-after-saudi-cuts-prices-china-slows-imports

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.