Saudi Arabia raises the price of Arab Light crude
Saudi Arabia raised the official selling price of Arab Light crude to its customers in Asia and the Mediterranean in May, according to a statement issued by Saudi Aramco, today, Friday.
Aramco set the official selling price to buyers in Asia at a premium of two dollars above the Amman/Dubai average, an increase of 30 cents from the Nissan price.
The increase in prices of Arab Light crude heading to Asia was in line with expectations.
Five sources in the refining sector, in a Reuters poll, expected the price to rise by between 20 and 30 cents per barrel compared to April prices.
The company added that the official selling price for its customers in the Mediterranean region fell by 10 cents for the month of May above the Brent price on the Intercontinental Stock Exchange, which reduces a discount of 20 cents in April.
The official selling prices for Northwestern European and US customers will not change during the month, and will remain at a premium of 30 cents over the Brent price on the Intercontinental Exchange and at $4.75 over the prices of Argus sour crude oil.
The exchange rate of the dollar in Lebanon today, moment by moment
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