Saudi Arabia hiked the price of its flagship crude to Asia by the most in more than two years as the kingdom responds to surging premiums for Middle Eastern crude and improving refinery margins.

State oil producer Saudi Aramco (TADAWUL:2222) has increased the price of its Arab Light oil to Asia for March by $2.40 a barrel. This adjustment, the largest since August 2022, surpasses the $2 increase that traders and refiners had anticipated,

Saudi Arabia hiked the price of its flagship crude to Asia by the most in more than two years as the kingdom responds to surging premiums for Middle Eastern crude and improving refinery margins. Most

Aramco raised the official selling price for flagship Arab Light crude by $2.40 to $3.90 per barrel above the Oman/Dubai benchmark average, Saudi Aramco said in a statement on Wednesday, Reuters reported. The oil exporter steeply increased crude prices for March shipments across all other regions as well.

Saudi Aramcoset March official selling price (OSP) for its Arab Light crude to North America at $3.8 per barrel above the Argus Sour Crude Index (ASCI