Saudi Aramco hikes Asian crude oil price by $2.40 a barrel

Published 05/02/2025, 19:16
© Reuters.

Investing.com -- State oil producer Saudi Aramco (TADAWUL:2222) has increased the price of its Arab Light oil to Asia for March by $2.40 a barrel. This adjustment, the largest since August 2022, surpasses the $2 increase that traders and refiners had anticipated, as per a Bloomberg survey.

The price hike is a response to the rising premiums for Middle Eastern crude and improved refinery margins. This significant increment in the price of Saudi Arabia’s flagship crude to Asia is the most substantial in over two years. The shift in pricing follows considerable fluctuations in Middle Eastern crude prices that occurred in January.

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