Saudi Aramco decreases crude prices to Asia to lowest in four months
by ChemOrbis Editorial Team - content@chemorbis.com
According to media reports, Saudi Aramco implemented a price cut for its Arab Light crude for its customers in Asia for January to the lowest price in four months.
Meanwhile, the company reportedly increased its Arab Light crude January prices to Northwest Europe following the price hikes in the region after the Opec deal.
According to economists, with these moves, the country is working on getting the most of the price increases after the Opec deal without losing their competitiveness in Europe while at the same time they are trying to keep their market share in Asia, the region from which they get the most demand, Reuters reported.
Meanwhile, the company reportedly increased its Arab Light crude January prices to Northwest Europe following the price hikes in the region after the Opec deal.
According to economists, with these moves, the country is working on getting the most of the price increases after the Opec deal without losing their competitiveness in Europe while at the same time they are trying to keep their market share in Asia, the region from which they get the most demand, Reuters reported.
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