Saudi Arabia may increase crude prices to Asia in Feb
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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