.The Saudi Arabian Oil Company, Aramco, said that Saudi Arabia raised the official selling price of Arab Light crude oil to Asia in April.
The increase was at a premium of $2.50 a barrel over the Dubai and Oman averages.
Aramco set the official selling price for Arab Light crude to northwest Europe.
The premium was $1 per barrel over Brent crude on the Intercontinental Exchange.
The company set the official selling price to the US in April at a premium of $6.65 a barrel
that was according to the Argus benchmark for sour crude, due to Reuters.
Aramco raised the official selling prices for shipments of Arab Light crude to its customers in Asia, Europe, and the United States, during the month of March 2023.
The company raised the official selling prices for Arab Light crude to Asia by 20 US cents to $2 per barrel, above the average prices of the Sultanate of Oman and Dubai.
Aramco raised all prices for European buyers by $2 a barrel, and most prices for the US by about 30 cents.
Saudi Aramco is a Saudi Arabian public petroleum and natural gas company based in Dhahran.
It is one of the largest companies in the world by revenue.
Saudi Aramco has both the world’s second-largest proven crude oil reserves, at more than 270 billion barrels
It has the largest daily oil production of all oil-producing companies.