Business Standard

Saudi Arabia may raise March crude oil prices for Asia on robust demand

State oil giant Saudi Aramco sets its crude prices based on recommendations from customers and after calculating the change in the value of its oil.


An employee rides a bicycle past oil tanks at Saudi Aramco oil facility in Abqaiq, Saudi Arabia (Photo: Reuters)

Reuters Singapore
Top oil exporter Saudi Arabia may raise prices of all grades of crude it sells to Asia in March on firm demand and stronger margins for gasoil and jet fuel, trade sources said.

The March official selling price (OSP) for flagship Arab Light crude could rise by about 60 cents a barrel from the previous month, according to seven refining sources surveyed by Reuters on Jan 25-26, which would mark a rebound after a $1.10 a barrel cut in February.

The anticipated price hikes for March supplies come after Middle East benchmarks strengthened this month. Asia's crude demand has been robust as

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First Published: Jan 27 2022 | 6:31 AM IST

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