Saudi Aramco Raises March Oil-Price Differentials to Europe
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Saudi Arabian Oil Co., the world’s largest crude exporter, raised differentials used in determining its official selling prices for all grades to customers in Northwest Europe and the Mediterranean for shipments in March.
The state-owned producer, known as Saudi Aramco, increased the premium for Arab Super Light crude to Asia by 10 cents a barrel to $4.20 above the average of Oman and Dubai grades, the Gulf benchmarks used by traders in Asia, while cutting Asian differentials for four other grades. Aramco reduced all premiums and discounts for U.S. buyers, the company said in an e-mailed statement today.