Saudi Arabia Surprises Markets By Increasing Oil Prices To Asia ...Middle East

OILPRICE - Economy
Saudi Arabia Surprises Markets By Increasing Oil Prices To Asia
source : OILPRICE ( Middle East ) () 27
On Monday, Saudi Arabia raised the official selling price of its flagship crude going to Asia in March. The hike, which was the first in six months, was due to expectations of a rebound in Chinese demand. Saudi oil giant Aramco lifted the price of its flagship Arab Light grade to Asia for March loadings by $0.20 per barrel to a premium of $2.00 a barrel over the Dubai/Oman average, despite the fact that oil prices have fallen so far this year. That’s the first increase in the official selling prices (OSPs) for Asia since September, likely…

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