Saudi Arabia, the world’s largest oil exporter, decided to raise the prices of most of its crude oil to Asia in September, after announcing the extension of the voluntary production cut for another month.
Saudi oil giant Aramco said in a statement on Saturday that Saudi Arabia raised the official selling price of Arab Light crude to Asia in September by 30 cents a barrel from August to $3.50 a barrel above the Oman/Dubai average.
It added that the official selling price to Europe also rose by $2 per barrel to $5.80 for the month of September above the price of Brent on the Intercontinental Exchange, while the official selling price to North America remained unchanged at $7.25 against the Argus benchmark for sour crude.
And Saudi Arabia announced on Thursday that the voluntary cut in its oil production by one million barrels per day will continue until the end of September, adding that it could be extended further or increased.
This will bring oil production in the Kingdom to nine million barrels per day in September.
2023-08-05 18:57:14
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