Saudi Arabia, the world's leading oil exporter, is adjusting its strategy in response to the booming US oil production, leading to a price cut to stimulate Asian demand. State-owned Saudi Aramco announced a reduction in the price of its flagship Arab Light crude headed to Asia in January by 50 cents to $3.50 a barrel, marking the first such cut since June. This decision reflects Saudi Arabia's challenges due to weakening demand amid increased oil supply from other global players,...