Saudi Arabia raised prices of its main crude oil to major buyers in Asia for next month after the OPEC+ group agreed to maintain current output cuts and the Middle East oil market showed signs of strengthening, Bloomberg reported. quoted by BTA.
The state concern "Saudi Aramco" (Saudi Aramco) raised the official Asian selling price to 2d above the regional benchmark for May futures, according to a quote obtained by Bloomberg.
The monthly growth of 30 cents was more than expected by surveyed market players and marks the second consecutive increase for the variety for the region.
The oil market in the Middle East appears to be marked by an increasingly tight supply. A committee of OPEC and the organization's partners recommended earlier this week that restrictions on oil production be maintained in June. In addition, geopolitical risks related to war and attacks on cargo ships contributed to the rise of futures to the highest price level this year - above 91 dollars per barrel.