Daily Management Review

Saudi Aramco raises May oil prices for European and U.S. customers


Saudi Arabia's state-owned oil and gas company raised May selling prices for oil to customers in Europe and the United States.

Barta IV
Barta IV
The report notes that Saudi Aramco has set the official selling price of Arab Light oil for May for Europe at three dollars higher than in April, the premium to Brent grade will be 4.6 dollars per barrel. 

Saudi Arabia also raised its sales price for U.S. crude oil supplies in May by about $2.20, a premium over the Argus international price agency's oil grades would be $5.56 a barrel.

Earlier, Bloomberg reported that Saudi Aramco had raised prices for all oil grades to be shipped to Asia for May, including the selling price of Arab Light for Asian consumers would increase by $4.4 from current levels and be $9.35 a barrel higher than the Oman/Dubai basket of grades. Analysts' forecast implied a $5 increase from April's level.

source: bloomberg.com