Saudi actions hinting at oil recovery

Saudi Arabia, the world’s largest oil exporter, has raised pricing for July sales of all crude grades to Asia, the US, and north-west Europe.

Saudi actions hinting at oil recovery
Mon, 05 Jun, 2017 - 01:00
Anthony DiPaola

It is taking advantage of increased demand, after suppliers extended production cuts to curb a global glut.

The State-owned Saudi Arabian Oil Company, better known as Saudi Aramco, increased official pricing for Arab Light crude to Asia by 60c, to 25c a barrel less than the regional benchmark.

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