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Saudis Raise Main Oil Prices for Asia While OPEC+ Boosts Output

Saudis Raise Main Oil Prices for Asia While OPEC+ Boosts Output

Bloomberg2 days ago
Saudi Arabia raised prices for its main crude grade for buyers in Asia next month as demand for oil and fuels holds up. The move, a day after OPEC+ producers agreed to a fourth round of big output hikes, suggests the kingdom is confident about the market.
State producer Aramco will raise the price for Arab Light crude, its flagship grade, by $1 a barrel to $2.20 a barrel more than the regional benchmark for Asian customers, according to a price sheet from the company seen by Bloomberg. It was expected to raise Arab Light price by 65 cents a barrel, according to a survey of traders and refiners.
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