Saudi Aramco Hikes Oil Prices for Europe and Asia But Not North America for 5th Straight Month, Despite Concerns from India

Saudi Aramco raised crude oil prices substantially for Northwest Europe and Mediterranean markets, but kept prices unchanged for North America.

It is the 5th straight monthly increase for Arab Light crude to Asia. Brent was trading down $0.44 at $85.37/barrel.

Aramco typically releases pricing after OPEC+ meets to determine output changes. Refiners sometimes voluntarily cut term nominations after hikes.

India warns OPEC+ supply cuts could have unintended consequences as it tries to revive economy.

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