For Asia, Saudi oil rises in price for the third month in a row. Also, prices will rise for the United States and Northern Europe.
Saudi national oil company Saudi Aramco has raised oil prices for August delivery to Asia, the US and Northern Europe, Bloomberg reports citing sources on Monday, July 6.
вЂњThis step is caused by the fact that the world's largest exporter of crude oil is pushing other major producers to join it in reducing supplies to restore balance in the market,вЂќ the statement said.
According to the agency, the premium for Arab Light is $1.2 per barrel, for other grades of oil вЂ” $1 per barrel.
It is noted that prices for Asia are rising for the third month in a row.
Saudi Arabia draws up a supply schedule based on consumer requests at the beginning of each month.