Saudi Arabia Angers Asian Buyers As It Hikes Oil Prices ...Middle East

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Saudi Arabia Angers Asian Buyers As It Hikes Oil Prices
source : OILPRICE ( Middle East ) () 30
Saudi Arabia has hiked its crude oil prices for Asian buyers by $0.40 per barrel and cut those for European and U.S. buyers by $0.20 and $0.10 per barrel, respectively, Reuters has reported, noting the increase is for May cargos, from the prices for April cargos. This means the May shipments price for Arab Light—Saudi Arabia’s flagship grade—will cost Asian buyers $1.80 above the Oman/Dubai average, which is used as basis for price-setting. The Oman benchmark was trading above $63 a barrel at the time of writing, and the Dubai…

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