The world's largest oil exporter, the Saudi Arabian company Saudi Aramco, has raised the price of its main crude Oil for deliveries to Asia in May hit a record high of $19.50 a barrel above the regional benchmark, Bloomberg reported, citing its source.
According to the data, the price of the flagship crude Arab Light is in doubt. The price for Asian buyers in May will be $19.50 a barrel above the regional benchmark. Bloomberg's survey of large traders expects an even more significant increase - around $40 per barrel.
The price increase comes against the backdrop of escalating tensions over the Caspian Sea, through which about 20% of the world's oil supplies pass. Blomberg notes that the closure of the Iranian pipeline has led to a sharp drop in crude oil exports from the Persian Gulf.
It has also become clear that in March, Japanese companies imported about 30% less oil than in February, which is the biggest drop since 2013, when it was introduced. the current methodology. This drop in sales is even greater than during the coronavirus epidemic in 2020, writes the leading Japanese economic newspaper Nikkei.
Πp; However, according to the newspaper's calculations, oil imports to Japan in April will fall by more than 40% compared to February levels, if the current flow remains blocked.
Despite this, the Japanese government believes that it will be able to fully satisfy domestic oil needs by the end of the year, national public television reported. According to sources, this could be achieved through a combination of alternative oil supply routes and the release of part of the strategic reserves to the market.