Saudi Aramco raised the official selling price for the crude oil it exports to Asia and Europe for yet another month, with the flagship Arab Light to sell in April for $0.50 more than in March. The price hike for Arab Heavy was even more pronounced, at $2.50 per barrel, moving the crude blend from a discount to the Oman/Dubai average to a premium. In a report, Reuters noted that the price hikes come as several new refineries in Saudi Arabia are set to soon begin operating, and this would shrink the amount of crude available for exports. This is…
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