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Saudi Arabia is likely to maintain October prices for Asian Light crude

 Last Update: 2022-11-26
 Source: Internet
 Author: User

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Saudi Arabia, the top oil exporter, expects the price of light crude sold to Asia in October to remain largely unchanged compared with the previous month to maintain its oil competitiveness
relative to other suppliers, several trade sources reported on September 3, Reuters reported on September 3.

Over the past two months, Saudi Arabia has lowered the price of Arabian Light crude and Arabian Ultralight crude against Asia to fend off competition
from other Middle Eastern oil suppliers, Europe and the United States.

Since June, the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC producers Russia have increased production
.

Increased exports from the Middle East and Russia, combined with arbitrage flows from Europe and the United States, have kept Asia well supplied, especially in light
grades.

crude

Since June, the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC producers Russia have increased production
.

Increased exports from the Middle East and Russia, combined with arbitrage flows from Europe and the United States, have kept Asia well supplied, especially in light
grades.

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