Saudi Aramco raises price of oil

 Saudi Arabia's State oil company, Saudi Aramco, announced that it will raise, from February, oil prices to customers in the far East. Rising prices is a sign that the country is preparing to decrease oil production, according to agreement of the Organization of petroleum exporting countries (Opec).

The Saudi Aramco and the largest company in the world in terms of crude oil reserves and production. Based in Dhahran, Saudi Aramco also operates the world's largest network of hydrocarbons, the Master Gas System.

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