Saudi Arabia reduced its official selling prices (OSP) for customers in Asia to a four-year low in January, Commerzbank’s commodity analyst Barbara Lambrecht notes.
Saudi Arabia reduced its official selling prices for customers in Asia to a four-year low in January, Commerzbank’s commodity analyst Barbara Lambrecht notes. Saudi Arabia reduces official sail prices for oil shipments “Next month, they will only have to pay a premium of 90 US cents per barrel for Arab Light compared to the Oman/Dubai benchmark. This is a significant drop compared to $1.70 in December and the lowest since January 2021. At the beginning of this year, the price premium was $3.
” “In our opinion, the significant price reduction is an indication of subdued demand in Asia, which purchases around 80% of Saudi Arabian oil. The OSPs for customers in Europe were also reduced significantly, which can be explained by the weak economy. In contrast, they remained unchanged for customers in the US as demand there is comparatively robust.
Saudiarabia Energy Technical Analysis Banks
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Saudi Arabia may slash January crude prices for AsiaSaudi Arabia may slash January crude prices for Asia
Read more »
Saudi Arabia Gives First Look at Planned 2034 World Cup Soccer StadiumLocated in northern Riyadh, the 92,000-seat stadium will be the largest in the country and is scheduled for completion in 2029.
Read more »
Saudi Arabia's network of spending and influence detailed before getting 2034 World Cup from FIFASaudi Arabia’s growing influence and massive spending in global sports have been detailed in research ahead of the kingdom being confirmed by FIFA next week as the 2034 World Cup host. The report was published by Play The Game which is a publicly funded sports ethics institute in Denmark.
Read more »
Dior’s ‘Designer of Dreams’ Exhibition Makes Historic Saudi Arabia DebutThe exhibition is crafted specifically for its Saudi audience, debuting several elements not seen in previous iterations of the exhibition.
Read more »
Middle East Gets Six Special Ferrari 296 GTBs, Which Is Your Favorite?The cars have been built for the UAW, Saudi Arabia, Bahrain, Qatar, Bahrain, and Kuwait
Read more »
Spike Lee Named Jury President of Red Sea Film Festival in Saudi ArabiaThe filmmaker will oversee the jury judging the main competition of the fourth edition of the Jeddah fest.
Read more »