Saudi raises crude oil prices in Asia

Saudi Arabia has raised the official selling price (OSP) of crude oil for Asian countries in February 2021. In addition to Asia, US importers will have to shell out extra money to buy Saudi fuel oil. However, European importers will get a discount. News Reuters and oilprices.com.

Saudi Arabia is currently the world’s top exporter of crude oil. A statement from Saudi Aramco, the country’s state-owned energy company, said that for February 2021, the OSP for Arab light crude for Asian importers, including China, India, Japan and South Korea, had been increased by 70 cents per barrel.

At the same time, Saudi Aramco raised OSP for Arab light crude by 75 cents a barrel for US importers, up 20 cents a barrel from the previous month.

Sunbd/NJ