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Saudi Arabia hikes Arab light crude price for Asia in May

Saudi Arabia hikes Arab light crude price for Asia in May

It set the Arab light price for Asia at +$1.8/barrel versus Oman/Dubai average, at +$0.85/barrel versus ASCI for the U.S. and at -$2.4/barrel versus ICE Brent for Europe, the company said

Saudi Arabia lowered price of Arab light crude for the U.S. and European markets by $0.1/barrel and $0.2/barrel respectively Saudi Arabia lowered price of Arab light crude for the U.S. and European markets by $0.1/barrel and $0.2/barrel respectively

Saudi Arabia increased the price of its Arab light crude for the Asian market by $0.4/barrel in May, compared to April, and lowered those for the U.S. and European markets by $0.1/barrel and $0.2/barrel respectively, according to a statement from oil producer Saudi Aramco.

It set the Arab light price for Asia at +$1.8/barrel versus Oman/Dubai average, at +$0.85/barrel versus ASCI for the U.S. and at -$2.4/barrel versus ICE Brent for Europe, the company said.

Also Read: India strongly pitches for easing cuts in crude oil production

Published on: Apr 04, 2021, 5:26 PM IST
Posted by: Mohammad Haarisbeg, Apr 04, 2021, 5:26 PM IST