Saudi Arabia Raises Crude Oil for Asia More Than Expected-Recovering Demand in Major Countries-Bloomberg

Saudi Arabia has raised crude oil sales prices to Asia much more than expected. The background is that measures against new coronavirus infections have been eased in major Asian countries and regions, and energy demand has been boosted.

Beijing City will resume corona restrictions and eat and drink in the store from the 6th

Saudi Aramco, the state-owned oil company of Saudi Arabia, has raised its official selling price (OSP) for Asia since February, pushing it to a record high, but in May.Price cutWas just announced.

Aramco raised the OSP of Arabian Light, the standard crude oil for July loading, by $ 2.10 per barrel, up $ 6.50 above the index price. A $ 1.50 increase was expected in a survey by Bloomberg on refineries and traders.

Saudis Up Prices

Saudi Aramco raises oil pricing as market tightens

Source: Saudi Aramco, Bloomberg

OPEC Plus does not exclude Russia from cooperation with the United States-to expand supply by filling in sanctions

Saudi crude oil exports account for more than 60% of China, Japan, South Korea, India and other Asian countries.

Original title:Saudis Raise Oil Prices More Than Expected Amid Asia Rebound (1)(excerpt)