Saudi Aramco may raise oil prices for Asia

Saudi Arabia’s oil and gas company Saudi Aramco may raise oil prices for Asian buyers in August, according to a Bloomberg survey, Report informs.

The majority of analysts interviewed by the agency expect Saudi Arabia to increase the selling price of the Arab Light brand, based on which prices for other brands are set, by $0.65 per barrel for buyers from Asia - now it will become $2.55 higher against the Oman/Dubai grade basket.

At the same time, one of the surveyed experts expects an increase in the selling price by $0.7, two more - by $0.4 and $0.45, respectively.

Saudi Aramco’s official data will be released in the first days of next month. Earlier, Saudi Arabia raised its July prices for Asian buyers by $0.2 a barrel, while analysts polled by the agency expected a $0.1 increase.

Saudi Aramco is the national oil and gas company of Saudi Arabia, founded in 1933. The headquarters is located in Dhahran. The company is represented in three major global energy markets in Asia, Europe, and North America. The company’s staff exceeds 70,000 people.