Featured
Saudi Aramco Cuts All Oil Pricing for September Sales to Asia
(Bloomberg) — Saudi Arabia, the world’s biggest oil exporter, lowered pricing for September sales of all crudes to Asia while raising prices to buyers in northwest Europe and the Mediterranean region.
State-owned Saudi Aramco cut pricing for its flagship Arab Light crude to buyers in Asia by 75 cents, to a $1.70 a barrel premium over the Oman-Dubai Middle Eastern benchmark, the company said on Sunday in an emailed statement.
Traders and refiners that Bloomberg surveyed earlier had anticipated a premium of $1.80 a barrel to the benchmark.
Saudi Arabia agreed in July to curb production for nine additional months alongside its OPEC+ partners. Even so, the kingdom has been able to export more to China than ever before, as increasing volumes to Asia have been offset by declining sales to the U.S., where buyers are awash with domestic supplies.
- Pricing for other grades to Asia, Aramco’s biggest regional market, declined to premiums ranging from $3.05 a barrel for its Super Light grade to 65 cents for Heavy crude.
- Aramco kept prices for all grades to U.S. buyers unchanged relative to the Argus Sour Crude Index, leaving Light at a premium of $2.85 a barrel.
- For sales to northwestern Europe, the company raised pricing for Light crude by $2.65 to a discount of 5 cents a barrel against benchmark Brent.
- Aramco increased prices for all grades to Mediterranean buyers, raising Light by $2.70 to a premium of 40 cents over the benchmark.
-
Banking & Finance2 months agoBank Muscat posts net profit of RO137.49 million in H1 2026
-
Magazines2 weeks agoOER Magazine July Edition 2026
-
Highlights3 weeks agoOERLive: Top 10 Mathematical Problems AI Has Solved or Transformed
-
Banking & Finance1 month agoOman Housing Bank launches digital waiting list for housing loans
-
Magazines2 weeks agoAl Mar’a Magazine July 2026
-
News4 weeks agoMade by Google 2026: Top 10 Biggest Launches You Need to Know – From the New Pixel 11 to a Life-Saving AI Watch
-
Alamaliktistaad Magazines2 weeks agoAlam Al-Iktisaad Magazine July 2026 Edition
-
Banking & Finance1 month agoOman Arab Bank CEO Sulaiman Al Harthi Retires as Ali Al Mani Is Named Successor

You must be logged in to post a comment Login