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Saudi Arabia may increase crude prices to Asia in Feb

by ChemOrbis Editorial Team -
  • 31/12/2015 (15:24)
According to media reports, Saudi Arabia is expected to increase February crude prices to Asia owing to firm naphtha margins and higher Dubai benchmark. Saudi flagship Arab Extra Light’s official selling price is anticipated to witness an increase of about 70 cents per barrel while Arab Light prices could rise by 15-60 cents per barrel, according to a survey conducted by Reuters.

The fact that Arab Extra Light yields more naphtha compared to other crude grades was reported as the reason why it is expected to see the highest hike. Meanwhile, average profits of refiners for producing a ton of naphtha from Brent crude reached its highest level since 2014 this month.

The official selling prices of Saudi crude are generally announced on the first few days of each month, leading the way for Iranian, Iraqi and Kuwaiti prices. Saudi Aramco, meanwhile, reportedly defines its crude prices depending on customer recommendations as well as monthly value changes of its oil, which is calculated based upon product prices and yields.
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