Most analysts polled by the agency expect Saudi Arabia to raise the selling price of Arab Light, the basis for pricing other grades, by $0.65 a barrel for Asian buyers – it will now be $2.55 higher against the Oman/Dubai basket.
However, one of the interviewed experts expects the selling price to rise by $0.7, two others – by $0.4 and $0.45 respectively.
Saudi Aramco’s official data will be released in the first days of next month. Saudi Arabia earlier raised July prices for Asian buyers by $0.2 a barrel, while analysts polled by the agency had expected an increase of $0.1.
Saudi Aramco, Saudi Arabia’s national oil and gas company, was founded in 1933. It is headquartered in Dhahran. The company has a presence in the three major global energy markets of Asia, Europe and North America. It employs more than 70,000 people.
source: bloomberg.com
