Saudi Arabia may raise prices for most crude oil sold to Asia in June
2024-04-29 09:40:53
On April 29th, according to sources said on Monday that Saudi Arabia may raise the price of most crude oil varieties sold to Asia in June to the highest level in five months. The official selling price (OSP) of flagship product Arab light crude oil in June is likely to rise by 70-90 cents from the average price in Oman and Dubai to nearly $3 per litre, which will be the highest level since January. Medium and heavy oil OSPs are expected to be flat with light oil, supported by tight supply and strong fuel oil profits. Changes in feedstocks at the ADNOC refinery led to record Murban crude exports of 1.65 million barrels per day in April, Kpler data showed, with strong supplies and weak naphtha profits expected to limit ultralight crude's June price gains to 30-50 cents, lagging gains in other grades.
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