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    Home > Chemicals Industry > Petrochemical News > Saudi Aramco raises crude oil prices Oil prices rise

    Saudi Aramco raises crude oil prices Oil prices rise

    • Last Update: 2023-03-24
    • Source: Internet
    • Author: User
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    Oil prices rose on Monday, Saudi Arabia's state-owned oil producer Aramco raised the official selling price of crude oil, suggesting that demand remains strong
    amid tight supply, according to a report on the hydrocarbon processing website on November 8.

    Brent crude rose 90 cents, or 1.
    1 percent, to $83.
    64 a barrel, down nearly 2 percent
    last week.
    U.
    S.
    crude rose 87 cents, or 1.
    1 percent, to $82.
    14, down nearly 3 percent
    on Friday.

    Late on Friday, Aramco raised its official price of Arab Light crude for Asia in December by $2.
    70 (relative to Oman/Dubai crude prices), up $1.
    40 from the month
    .

    ANZ Research said in a report that Aramco's move showed demand remained strong
    as OPEC producers and other major oil exporters continued to control supply.

    Allies such as OPEC+ and Russia agreed last week to stick to plans
    to raise oil production by 400,000 barrels per day from December.

    The United States had called on OPEC+ to increase production to curb rising oil prices and said on Saturday that its government had "other tools" to counter the rise
    .

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