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2016-03-03 19:20:00

SAUDI RAISES PRICE

SAUDI RAISES PRICE

Saudi Arabia's decision to raise oil prices to its main customers in Asia may just be another sign that crude markets are indeed on the road to recovery.

The world's biggest oil exporter lifted the official selling price (OSP) of its benchmark Arab Light crude by 25 cents a barrel for cargoes loading in April.

The April OSP for Arab Light will be a discount of 75 cents a barrel to regional market Oman/Dubai, down from a discount of $1 for March cargoes.

While the OSPs have moved around a bit in recent months, a trend is emerging toward higher…

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Tags: SAUDI, OIL, PRICES
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