Saudi Arabia has raised its oil prices for February sales to Asian buyers, a sign that after OPEC+ recently postponed production increase plans, this largest global Crude Oil Product exporter may see supply tightness in its biggest market. Saudi Arabia has increased the official selling price of its Arab Light Crude Oil for sale to Asia in February to a premium of $1.50 per barrel over the Oman/Dubai average, an increase of 60 cents from January, whereas the survey forecasted a rise of 10 cents. Due to weak demand growth potentially leading to an increase in surplus Crude Oil Product, London benchmark crude oil prices declined by about 3% last year and are currently locked in the range of around $75 per barrel.
欧佩克推迟增产之际，沙特上调油价暗示供应将收紧
As OPEC delays the increase in production, Saudi Arabia raises oil prices, indicating that supply will tighten.
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