Saudi Arabia’s Latest Oil Price Hike Has Sapped Buyer Appetite ...Middle East

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Saudi Arabia’s Latest Oil Price Hike Has Sapped Buyer Appetite
At least four buyers of Saudi crude oil from Asia and Europe have changed their plans for future orders after the kingdom announced its latest price hike, Bloomberg has reported, citing unnamed sources. Earlier this week, Saudi Arabia said it would increase the Dubai/Oman premium of its flagship Arab Light crude to $3.20 a barrel for August, with Asia accounting for 60% of the country's market. The increase was almost the smallest for Asian buyers, however. Per documents cited by Bloomberg, Saudi Aramco hiked its prices for European buyers by $0.80…

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