Saudi Arabia's crude exports to China set to rise after price cut

The price cut followed a weekend decision by the Organization of the Petroleum Exporting Countries and allies led by Russia, known as OPEC+, to raise production by 137,000 barrels per day in October.

The group, which is led by Saudi Aramco and pumps about half of the world's oil, has already boosted production targets by 2.5 million bpd since April, equivalent to about 2.4 per cent of global demand.

(Reporting by Siyi Liu in Singapore Editing by David Goodman, Elaine Hardcastle)