07-03-2022, 07:52 AM
By Tsvetana Paraskova - Mar 03, 2022, 3:30 PM CST
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The Saudis are expected to raise significantly their official selling prices (OSPs), and Arab Light—the Kingdom’s flagship grade—could see its price for Asia next month at as much as US$4.50 per barrel over the Oman/Dubai average, which would be a record high differential
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Saudi Arabia generally sets the pricing trends of the other major Middle Eastern oil producers
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the OPEC+ group rubberstamped another modest 400,000 barrels per day (bpd) increase in its collective oil production for April, despite soaring oil prices after a key member of the pact, non-OPEC producer Russia, invaded Ukraine.
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the exceptionally tight market for Asian buyers, many of which are now seeking extra volumes from the Middle East – despite oil’s rally to over a decade-high – as they are wary of touching barrels from Russia. Crude from Russia, the key Saudi ally in the OPEC+ pact, has become increasingly toxic for buyers globally after Russia’s invasion of Ukraine was met with harsh banking sanctions for Russian banks.
https://oilprice.com/Latest-Energy-News/...ecord.html
......
The Saudis are expected to raise significantly their official selling prices (OSPs), and Arab Light—the Kingdom’s flagship grade—could see its price for Asia next month at as much as US$4.50 per barrel over the Oman/Dubai average, which would be a record high differential
......
Saudi Arabia generally sets the pricing trends of the other major Middle Eastern oil producers
......
the OPEC+ group rubberstamped another modest 400,000 barrels per day (bpd) increase in its collective oil production for April, despite soaring oil prices after a key member of the pact, non-OPEC producer Russia, invaded Ukraine.
......
the exceptionally tight market for Asian buyers, many of which are now seeking extra volumes from the Middle East – despite oil’s rally to over a decade-high – as they are wary of touching barrels from Russia. Crude from Russia, the key Saudi ally in the OPEC+ pact, has become increasingly toxic for buyers globally after Russia’s invasion of Ukraine was met with harsh banking sanctions for Russian banks.
https://oilprice.com/Latest-Energy-News/...ecord.html