Saudi Aramco raised the price of crude sold to Asia and Europe

Views: 3     Author: Site Editor     Publish Time: 2022-07-08      Origin: Site

Saudi Aramco raised crude prices for August to Buyers in Asia and Europe, while Opec + struggles to boost production.

For Asian buyers, Aramco raised the price of its benchmark Arab light crude by $2.80 a barrel to a premium of $9.30 a barrel to Oman/Dubai prices.

The premium for buyers in northwest Europe rose by $1 to $5.30 a barrel over ICE benchmark Brent crude, and by $1.20 to $5.10 a barrel for buyers in the Mediterranean.

The rise comes as Opec + and its members struggle to boost oil production in the short term. Last week, Opec + agreed to increase oil production by 648,000 b/d, but analysts said the group was unlikely to meet its target.


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