Economics
Aramco Raises Light Crude Pricing to Asia to Three-Year High
- Pricing higher for all oil grades sold to Asia for December
- Saudi oil producer raising pricing in sign of strong demand
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Saudi Arabia raised pricing for December oil sales to Asia in a sign the world’s largest crude exporter is confident about strong demand in its biggest market.
State-owned Saudi Arabian Oil Co. increased its official pricing for Arab Light crude to buyers in Asia by 65 cents to $1.25 a barrel more than the regional benchmark, the company known as Saudi Aramco said Thursday in a statement. That is the highest since September 2014 and is well above the 35-cent increase forecast in a Bloomberg survey.