Saudi Aramco Raises June Premium for Arab Light Crude to Asia
This article is for subscribers only.
Saudi Arabian Oil Co., the largest crude exporter, raised the premium used to determine June official selling prices for its Arab Light blend for customers in Asia and cut premiums for other light grades to the Far East.
The state-owned producer, known as Saudi Aramco, increased the monthly premium for the Light blend by 20 cents a barrel to $2 more than the average of Oman and Dubai grades, the company said today in an e-mailed statement. The discount for Arab Heavy to Asia narrowed by 70 cents a barrel to 70 cents a barrel less than the Gulf benchmarks.