Saudi Aramco raises oil prices to Asia on stronger demand

05/09/2017 Argaam

State-owned oil giant Saudi Aramco has raised its October official selling price (OSP) for Asian customers, indicating rising demand, agencies reported on Monday.

 

The price for the Arab Light grade increased by $0.55 a barrel (bbl), $0.30/bbl more than the regional benchmark.

 

Aramco raised pricing on other grades shipped to Asia by between $0.3 and $0.8/bbl, it was reported.

 

Oil pricing also increased for Aramco’s customers in the United States by $0.10 from September to $1.30/bbl.

 

On the other hand, the Arab Light OSP to Northwest Europe dropped $0.10 month-on-month to $2.15/bbl for October.

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