US consumer prices were unchanged
Saudi Arabia has raised oil prices for Asia and Europe. In particular, the price of the main type of Arab Light oil rose by 2.50 dollars per barrel above the regional benchmark and by 50 cents above the March level, reports “Bloomberg”, quoted by BNR.
Saudi Aramco raised prices for Asia for the second consecutive month. Consumer prices in Northwest Europe rose by $1 a barrel and the Mediterranean by $0.3 against ICE Brent, while US consumer prices were unchanged.
Aramco sells about 60 percent of its crude oil supplies to Asia, mostly under long-term contracts whose prices are revised monthly. China, Japan, South Korea and India are the largest importers of oil from Saudi Arabia.
In 2022, Saudi Arabia’s oil export earnings hit a ten-year high of $326 billion.
Meanwhile, Saudi Arabia’s GDP grew by 8.7% over the year, the fastest growth among G20 countries
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