Reported 2 months ago
Saudi Arabia has raised the price of its flagship crude oil to Asian customers for the first time in three months, signaling confidence in demand from the region. The September official selling price of Arab Light crude was increased by 20 cents per barrel above regional benchmarks. In contrast, the prices for other regions, including Europe and the US, were reduced significantly. The changes come as the OPEC+ countries maintain oil supply plans amidst expectations of healthy demand in Asia due to refinery maintenance and increasing consumption in China.
Source: YAHOO