• 3 minutes Will Iron-Air batteries REALLY change things?
  • 7 minutes Natural gas mobility for heavy duty trucks
  • 11 minutes NordStream2
  • 8 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 2 hours U.S. Presidential Elections Status - Electoral Votes
  • 33 mins Evergrande is going Belly Up.
  • 3 hours Monday 9/13 - "High Natural Gas Prices Today Will Send U.S. Production Soaring Next Year" by Irina Slav
  • 13 hours Is China Rising or Falling? Has it Enraged the World and Lost its Way? How is their Economy Doing?
  • 2 days Poland Expands LNG Powered Trucking and Fueling Stations
  • 2 days World’s Biggest Battery In California Overheats, Shuts Down
  • 21 hours The unexpected loss of output from wind turbines compels UK to turn to an alternative; It's not what you think!
  • 8 hours Ten Years of Plunging Solar Prices
  • 12 hours Extraction of gasoline from crude oil.
  • 3 days The coming Cyber Attack
  • 3 days Is the Republican Party going to perpetuate lies about the 2020 election and attempt to whitewash what happened on January 6th?
  • 3 days Ozone layer destruction driving global warming
  • 3 days 'Get A Loan,' Commerce Chief Tells Unpaid Federal Workers
Tsvetana Paraskova

Tsvetana Paraskova

Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews. 

More Info

Premium Content

Saudis Raise Crude Oil Prices To Asia

On the back of a stronger Dubai benchmark and solid demand in Asia, Saudi Arabia has raised the official selling prices (OSPs) of all its crude grades to Asia for January, generally in line with traders’ expectations.

OPEC’s largest producer and exporter has lifted the price of its flagship Arab Light crude grade for Asian buyers by $0.40 a barrel for January compared to December, to a premium of $1.65 per barrel over the Dubai/Oman benchmark against which the Saudis price their oil to Asia, a source with knowledge of the pricing told Reuters on Tuesday.

The $1.65 Arab Light premium to Dubai/Oman is the highest in more than three years, since September 2014, according to Reuters data.

Saudis have raised the OSP for all their crude grades bound for Asia next month, Reuters’ source said.

A Reuters survey showed last week that traders expected Saudi Arabia to lift the OSP for all its grades for Asia, with the lighter grades getting higher price hikes, and smaller increases for the heavier grades. The OSP of Arab Extra Light was expected to be raised by $0.50-0.60 to a $2.95-$3.05 premium over Dubai/Oman. The Arab Light pricing reported today was at the upper end of the expectations of survey respondents.

Arab Medium and Arab Heavy were expected to see smaller increases in OSP, and one of the four survey respondents expected a price cut for Arab Heavy.

In Platts’ survey, the expectations were similar, with traders expecting increases for the lighter grades on strengthened Dubai oil market structure in November due to robust demand in Northeast Asia and OPEC’s continued cuts. However, some traders thought the OSP differentials for some medium and heavy grades from the Middle East may not be raised because of weak fuel oil margins and pricing competition from similar grades from other regions.

Find actual Saudi Arab Light, Arab Medium and Arab Heavy prices on our brand-new oil prices page

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment
  • Bpeter on December 05 2017 said:
    Saudi's are raising the price of crude to Asia yet shale exports to Japan are at record highs. Is the US shipping water to Japan in a top secret project disguised as oil. It would benefit the US economy as well as Japan a great deal to get oil prices lower. I think OPEC and the Saudi's have caught on.

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News