The expert website “Energy” reported that Saudi Aramco announced on Sunday that it had raised its official crude oil sales prices, for shipments to be delivered next July, more than expected.
In details, he said that “Saudi Aramco” has raised official sales prices more than expected, due to the continued recovery of oil prices in the range of 115 to 120 dollars per barrel, as it raised the “Arabian Light Crude Sales price in Asia $ 2.10 to $ 6.50 per barrel” higher than the Oman/Dubai average, compared to $ 4.40 per barrel higher than the Oman/Dubai average in June and $ 9.35 per barrel higher higher than the Oman/Dubai average in May. and $ 4.4 in April.
Earlier expectations, reported by the Bloomberg agency, indicated that Saudi Aramco police aim to raise the selling prices of its common crude for July shipments to its clients in Asia, within the limit of the increase to not exceed 1 .5 dollars per barrel, while these expectations coincide with the increase in margins on refining fuel and jet fuel, and the recovery of Chinese demand.
At the beginning of May, the Saudi oil giant reduced the official sales prices of its common crude oil in Asia, Europe and America, this June, by about 50%.
The increase in Saudi Aramco’s official sales prices to its clients in Asia comes after the OPEC+ alliance’s announcement to increase oil production by 648,000 barrels per day, in the coming months of July and August.
The alliance stressed, at its ministerial meeting on June 2, the importance of having stable and balanced markets for crude and refined products, and also expected an increase in world consumption of refineries, from end of closures caused by the Corona virus pandemic in the world’s major economic centers.
The OPEC+ alliance also approved the “extension of the compensation period until the end of December 2022, by some low -performing countries, as long as they submit their plans before June 17.”
Source: Energy
Source: Arabic RT
