Home > News

Product Categories

Saudi Aramco Raises Asian Oil Sale Prices


     Saudi Arabian Oil Co. on Sunday raised all of the prices at which it will sell oil to Asia in May, while slightly lowering its prices for the U.S. and Europe, highlighting the disparity between the West and China's handling of coronavirus cases in recent weeks.

    The state-run company, also known as Saudi Aramco, raised all prices for Far East Asia, upping its Arab light crude oil by $0.40 cents-a-barrel to a $1.80 cents-a-barrel premium to the Oman/Dubai average.

    Meanwhile, Aramco tweaked most of its U.S. sale prices lower by $0.10 cents a barrel, reduced its light crude price by the same amount to a $0.85 cents-a-barrel premium. The company cut its light crude sale price to Northwest Europe by $0.20 cents a barrel, leaving it at a $2.40-cents-per-barrel discount, while lowering its light crude sale price for the Mediterranean by the same amount to give it a $2.10-a-barrel discount to the Oman/Dubai average.