Riyadh Mulls Price Hike for Crude to Asia

Riyadh Mulls Price Hike for Crude to Asia

Saudi Arabia is expected to slightly increase the price of its crude for Asian customers in March in line with a stronger Dubai benchmark price, Reuters reported.

The March official selling price (OSP) for flagship Arab Light Crude could rise by up to $0.3 a barrel compared to January. For heavier crude such as Arab Medium and Arab Heavy, the prices are expected to remain unchanged or edge up as weaker fuel oil cracks weigh on these grades. Asia’s fuel oil crack in January is at the widest discount to Dubai in three months, FMT News informed.

Saudi Aramco kept February oil exports to most buyers in Asia steady, but cut term supplies to a handful of refiners in India and Southeast Asia as it complies with an OPEC crude output cap.

Dr. Mahinaz El-Baz 318 Posts

Mahinaz El Baz received her PhD degree in International Economics from Helwan University in 2022. She has +10 years of experience in journalism and economic analysis. She received the "Best Economic Article Award" in 2016 from CFA Society Egypt.

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