• Tuesday, November 19, 2019

Saudi Arabia cuts oil prices for Europe, raise oil prices for Asia

Discussion in 'World Affairs' started by breeze, Mar 5, 2012.

  1. breeze

    breeze FULL MEMBER

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    Saudi Arabia raises Arab Light oil price to Asia

    DUBAI (Reuters) - Saudi Arabia has raised the price of its flagship Arab Light crude oil for customers in Asia, who buy more than half of its crude exports, by $1.25 a barrel for April, while cutting prices for its heavy crude for European buyers, state-run Saudi Aramco said on Sunday.

    Saudi Aramco has set the Arab Light price for Asian buyers at Oman/Dubai average plus $2.80 per barrel for April, up from $1.55 for March.


    Saudi Arabia raises Arab Light oil price to Asia - chicagotribune.com
     
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  2. RayKalm

    RayKalm SENIOR MEMBER

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    Wow, Saudi Arabia really stooped that low?

    They may be doing this because of their rivalry with Iran.
     
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  3. IndoUS

    IndoUS SENIOR MEMBER

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    Then they wonder why countries are buying oil from Iran and others and not from them.
     
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  4. Paan Singh

    Paan Singh BANNED

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    thks saudis...
     
  5. ahfatzia

    ahfatzia SENIOR MEMBER

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    That's arrogance at it's best. They are using oil for political leverages and they will pay for it some day.
     
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  6. breeze

    breeze FULL MEMBER

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    They are only doing what the USA tells them to do.
     
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  7. W.11

    W.11 ELITE MEMBER

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    lol poor saudis, they are really bunch of messed up minds,prices must be equal, but its like low prices for masters, high prices for those who havent enslaved them yet

    iran will certainly benefit from this
     
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  8. ahfatzia

    ahfatzia SENIOR MEMBER

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    Hey, you probably right. And Obama took his order from Netanyahu after the two met.
     
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  9. fallstuff

    fallstuff SENIOR MEMBER

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    If you ask a Saudi whose s*it stinks more, white folks or the Asians ? You know what the answer will be.
     
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  10. Syrian Lion

    Syrian Lion SENIOR MEMBER

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    Their masters in Tel Aviv and D.C ordered them to do that.
     
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  11. mikkix

    mikkix SENIOR MEMBER

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    we all remember lawrence of arabia...
     
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  12. Mosamania

    Mosamania ELITE MEMBER

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    Saudi Arabian Oil Co., the world’s largest crude exporter, said Arab Light crude sold to Asia will be priced at a premium of $2.80 a barrel to the regional benchmark for April loading compared with $1.55 for March.
    Saudi Aramco, as the state-run company is known, raised the premiums for other light grades sold to Asia, as well as its Arab Medium crude, and narrowed the discount for Arab Heavy, the company said in an e-mailed statement today.
    Aramco also raised the differentials for most grades sold to U.S. customers while cutting the formulas for deliveries to Northwest Europe, the statement showed. Each of the three regions is priced against a different benchmark.
    The following table gives differentials for the regions into which Aramco sells in relation to benchmark prices, the month-on-month change and the degrees of gravity as defined by the American Petroleum Institute. Differentials are in U.S. dollars a barrel.
    United States

    Variety API April March Change
    Extra Light 38.5 +1.85 +1.85 0.00
    Arab Light 32.5 +0.05 -0.05 +0.10
    Arab Medium 31 -2.10 -2.15 +0.05
    Arab Heavy 27 -3.40 -3.75 +0.35
    ----------------------------------------------------

    Prices for customers in the U.S. are expressed as a differential
    to the Argus Sour Crude Index published by Argus Media Ltd.

    Asia

    Variety API April March Change
    Super Light 50.6 +7.60 +4.20 +3.40
    Extra Light 38.5 +5.20 +3.10 +2.10
    Arab Light 32.5 +2.80 +1.55 +1.25
    Arab Medium 31 +0.90 +0.25 +0.65
    Arab Heavy 27 -0.75 -0.85 +0.10
    ----------------------------------------------------

    Prices for customers in Asia are expressed as a differential to
    the average of Oman and Dubai grades, the two Arabian Gulf
    benchmarks used by Asian oil traders. The Dubai and Oman price
    assessments are published by Platts, the energy-information
    division of McGraw-Hill Cos.

    Northwest Europe

    Variety API April March Change
    Extra Light 38.5 +0.70 +1.55 -0.85
    Arab Light 32.5 -1.25 -0.85 -0.40
    Arab Medium 31 -2.95 -2.40 -0.55
    Arab Heavy 27 -4.60 -4.30 -0.30
    ---------------------------------------------------

    Mediterranean

    Variety API April March Change
    Extra Light 38.5 +1.75 +1.75 +0.30
    Arab Light 32.5 -1.10 -1.10 0.00
    Arab Medium 31 -2.60 -2.45 -0.15
    Arab Heavy 27 -4.80 -4.40 -0.40
    ---------------------------------------------------

    Prices for Northwest European and Mediterranean customers are
    expressed as a differential to the Brent weighted average posted
    by Intercontinental Exchange, free on board Ras Tanura.
    Saudi Aramco Raises Oil Premium for April Sales to Asia, U.S.; Cuts Europe - Bloomberg

    As you guys can see the title is extremely misleading. I am sure the US even asked for increase in Oil price as well huh?
     
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  13. SyrianChristianPatriot

    SyrianChristianPatriot FULL MEMBER

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    I have been telling this, Saudi Arabia is no friend of China, Russia, India it's alliance is to the west, Chinese, Russians, and Indians should understand how much trouble saudia arabia causes.
     
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  14. SyrianChristianPatriot

    SyrianChristianPatriot FULL MEMBER

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    They are slaves they will even come this low, they think they are a world power to slap Russia and china but they are not. it's time to teach them a lesson they will never forget.

    ---------- Post added at 07:09 PM ---------- Previous post was at 07:08 PM ----------

    You seen the Prostitutes from Europe they got ? Asians are treated like crap in their country.
     
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  15. SyrianChristianPatriot

    SyrianChristianPatriot FULL MEMBER

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    They were always slaves this is what they do.
     
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