Saudi Arabia’s state oil giant, Saudi Aramco, has increased its official selling prices for crude oil exports to Asia for June, Bloomberg reported, citing company data.
According to the report, the price for its flagship Arab Light crude has been raised by $0.20 per barrel for Asian buyers. Traders had expected a slightly larger increase of $0.30 per barrel. Meanwhile, Saudi Arabia has lowered oil prices for other regions, including Europe and the United States.
Bloomberg notes that the June price hike for Asia partially offsets a deeper-than-expected price cut made for May.
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Based on materials from TASS