Saudi Arabia is likely to keep crude oil prices for Asia unchanged for April

Huitong Financial News On March 1, several trade sources said that Saudi Arabia’s crude oil scheduled price for Asian customers in April may remain unchanged after the Benchmark crude oil price in the Middle East rose slightly. According to a Reuters poll of six refining sources, the official selling price (OSP) of Arab Light crude in April is likely to remain unchanged or rise by 10-20 cents per barrel. One of the sources said that the market structure and product cracks have not changed much compared to last month, and now there is still uncertainty about Red Sea shipping, and it is possible that Saudi Arabia will want to ship this oil to Asia. Another source said the spread narrowed sharply from previous months after Saudi Arabia lowered its official selling price closer to the Benchmark. “In our view, Saudi Arabia should be fairly satisfied with the 45-cent regular crude premium,” he said. ”