Saudi Aramco said on Sunday evening that Saudi Arabia raised the selling price of its Arab Light crude oil to Asia for the second month in April to $2.50 a barrel, above the average price of Oman and Dubai crude.<\/p>\n\n\n\n
The price increase, which is 50 cents a barrel above official selling prices for March, is in line with a Reuters survey as indicators of China’s economic recovery raised expectations of higher fuel demand from the world’s largest oil importer.<\/p>\n\n\n\n
China set a modest economic growth target of around 5 percent for this year at its annual People’s Congress. The world’s second-largest economy posted one of its weakest performances in decades last year, when gross domestic product grew just 3 percent.<\/p>\n\n\n\n
The market was surprised by Saudi Arabia setting the price of Arab Heavy crude. The official selling price of Arab Heavy crude was $0.75 a barrel, higher than the Oman\/Dubai average, up $2.5 a barrel from March.<\/p>\n\n\n\n
Elsewhere, top oil exporter Saudi Arabia set the OSP for Arab Light crude to northwest Europe at $1 a barrel above Brent crude in April, 50 cents higher than in March.<\/p>\n\n\n\n
Meanwhile, the price of Arab Light Crude to the Mediterranean was raised 30 cents from last month to $0.80 against Brent crude in April.<\/p>\n","protected":false},"excerpt":{"rendered":"
Saudi Aramco said on Sunday evening that Saudi Arabia raised the selling price of its Arab Light crude oil to Asia for the second month in April to $2.50 a barrel, above the average price of Oman and Dubai crude. The price increase, which is 50 cents a barrel above official selling prices for March, …<\/p>\n","protected":false},"author":9,"featured_media":30557,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[49,36],"tags":[6849,6847,6846,6844],"class_list":["post-80981","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-economic-reports","category-market-updates","tag-asia","tag-ksa","tag-oil","tag-saudi"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/80981","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=80981"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/80981\/revisions"}],"predecessor-version":[{"id":80982,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/80981\/revisions\/80982"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/30557"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=80981"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=80981"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=80981"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}