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2014-10-31 14:10:00

OIL PRICES COULD RISE

OIL PRICES COULD RISE

A strong Dubai price in a weak oil market has created a dilemma for top oil exporter Saudi Arabia as it works out official monthly selling prices for December.

The largest OPEC producer is expected to raise the December prices for most of the crude grades it sells to Asia when it notifies customers early next week. A hike would be in line with a strong Dubai market, but traders said that benchmark is not reflecting weak demand and poor refining margins in Asia.

"It's a tricky one this month," said a trader with a Western firm. "They will go up, but by how much, I'm not sure, particularly as they have been very…

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Tags: SAUDI, OPEC, OIL, PRICES
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