Dubai: Oil giant Saudi Aramco has increased the January price for its Arab light crude to Asia after oil cartel Opec and its allies agreed to raise supply from next month.
The selling price was raised to a premium of $0.30 per barrel over Oman/Dubai crude, up $0.80 from December, according to a Saudi Aramco note.
Aramco also set the January official selling price of its Arab light crude oil to the US at plus $0.55 a barrel over Argus Sour Crude Index, or Asci, down $0.30 a barrel from December, the Aramco document said.
The Saudi Arabian oil company also set the official selling price for its Arab light crude oil to Northwest Europe to minus $1.40 a barrel to the Intercontinental Exchange, or ICE, Brent.