By Giulia Petroni
Top oil exporter Saudi Arabia kept the March price for its flagship Arab Light crude to Asian customers unchanged from the previous month at a more than two-year low.
State-owned oil giant Saudi Arabian Oil Co., known as Saudi Aramco, set its March official selling price for Arab Light to Asia at $1.50 a barrel over the Oman/Dubai average. The price is considered a barometer for how the kingdom sees the demand outlook.
Aramco left also the March price for Arab Heavy crude to Asia at the prior month's level, while it slightly cut prices for Arab Extra Light and Arab Medium by $0.05 and $0.20 a barrel, respectively.
Looking at other regions, the oil producer kept its March prices to northwest Europe and the Mediterranean unchanged, but lowered its Arab Light and Extra Light prices to the U.S. by $0.30 and $0.20 a barrel, respectively.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
02-06-24 0349ET
