State energy firm Saudi Aramco hiked its key Arab Light grade for July shipments to Asia by 20 US cents to US$1.90 (RM7.83) a barrel above a benchmark. Analysts surveyed by Bloomberg were expecting a raise of just 10 cents.
RIYADH: Saudi Arabia increased oil prices for customers in its main market of Asia by more than expected after crude surged above US$70 (RM288.58) a barrel and Opec forecast that global demand would heavily outstrip supply over the rest of the year.
State energy firm Saudi Aramco hiked its key Arab Light grade for July shipments to Asia by 20 US cents to US$1.90 (RM7.83) a barrel above a benchmark. Analysts surveyed by Bloomberg were expecting a raise of just 10 cents.
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