Saudi Aramco, Saudi Arabia's giant state-owned oil company, is expected to raise its official selling oil prices for Asian buyers and cut them for American consumers.
According to analysts’ estimates, the price of light crude grades may increase by $0.5-0.6 per barrel. The company’s Super Light and Extra Light are expected to advance by $0.6 and $0.8, while the price of Arabian Medium and Arabian Heavy is likely to rise by $0.55 and $0.4, respectively.
Experts suggest that the price of Arab Light, one of the key Saudi Aramco products, will change as well. Its official selling price to Asia will be increased by $0.8 per barrel to its record level in the last five months. Consequently, the price of Arab Light will be $0.3 per barrel higher than Oman and Dubai crude.
American buyers of Saudi Aramco crude will be in a better position than their Asian counterparts. The Arabian top oil producer has confirmed that its official selling price for all grades of oil to the United States will be reduced by $0.3 per barrel in January 2021.
