Saudi Arabia raises March crude prices to Asia

Saudi Arabia raises March crude prices to Asia
# 05 February 2022 12:23 (UTC +04:00)

Saudi Aramco has raised prices for all crude grades it sells to Asia in March from February, in line with market expectations, APA-Economics reports citing TASS.

The world's top oil exporter increased its March price for its Arab Light crude grade for Asian customers by 60 cents a barrel versus February to a premium of $2.80 a barrel to the Oman/Dubai average, a pricing document showed on Saturday.

The producer had been expected to raise the March price for the flagship grade by 60 cents a barrel, according to a Reuters survey of seven refining sources in late January.

The price hikes reflected firm demand in Asia and stronger margins for gasoil and jet fuel.

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