By Will Horner

Saudi Arabia cut its January selling prices for the flagship light crude, which it sells to Asia, despite signs China is easing some of the Covid-19 restrictions that have curbed its huge appetite for crude.

Saudi Arabian Oil Co. slashed the price of its benchmark Arab Light crude, which is sold to Asia, by $2.20 a barrel, meaning next month’s sales will mark a premium of $3.25 a barrel above average of the benchmarks of Oman and Dubai

The company, commonly known as Saudi…