Saudi Arabia to raise oil prices for Asia

By Alimat Aliyeva

Saudi Arabia will raise prices for most types of oil for Asian buyers in May, Azernews reports, citing foreign media outlets.

The cost of the main grade supplied to Asia, Arab Light, will increase by $0.3 per barrel. As a result, it will cost $2 more than a basket of oil from Oman and Dubai, the state-owned Saudi Aramco said in a statement.

Oil prices supplied to the United States and Northwestern Europe will remain largely unchanged, while in the Mediterranean they will increase by $0.1-0.4 per barrel.