Saudi Arabia Is Expected to Raise Its Oil Prices to Asia to a 5-Month High

Saudi Arabia is expected to raise the price of its flagship Arab Light crude loading for Asia in June.

Saudi Arabia is likely to raise the price of its flagship Arab Light crude loading for Asia in June to the highest premium over benchmarks as the Middle East ern quotes have strengthened this month, a Reuters survey of seven refining sources showed on Monday. Saudi Aramco, the world’s top crude oil exporter, could raise later this week the price of Arab Light for Asia in June by $0.70-$0.90 to nearly a $3.

Robust margins and tighter supply due to the OPEC cuts could also prompt the Kingdom to raise the OSPs of its heavier crudes, Arab Medium, and Arab Heavy, in lockstep with the price of Arab Light, most respondents in the Reuters survey said.

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Crude Oil Oil Prices Arab Light Middle East Exports

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