Saudi Arabia hiked official selling prices for all of its oil sales to Asian customers in May, days after the kingdom led a surprise OPEC+ output cut.
State-owned Saudi Aramco raised its selling price for flagship Arab Light crude to Asia by 30 cents a barrel, boosting prices for a third consecutive month, according to price sheets seen by Bloomberg. Traders who were surveyed before the shock OPEC+ decision had expected Arab Light prices to fall by 43 cents a barrel.
Source : Saudi Arabia Increases Oil Prices to Asia in Response to OPEC+ Surprise Cutshttps://www.bloomberg.com/news/articles/2023-04-05/saudi-arabia-hikes-prices-for-asian-oil-sales-after-opec-cuts