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.