Saudi Arabia raises oil prices

According to a price list seen by Bloomberg, it appears that Saudi Arabia has decided to give a boost to the oil market and increased prices for customers worldwide. 


Saudi Aramco raised the official sales price for its Arab Light flagship to customers in Asia by $1.40 per barrel, resulting in a $5.90 discount from the Middle East benchmark.

For now, the largest exporter of the commodity has also increased prices of all shipments to Europe and the U.S. and at the same time cuts production as part of a global agreement to rebalance markets.

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