Top oil exporter Saudi Arabia is expected to keep prices of various grades of cr...
SINGAPORE - Top oil exporter Saudi Arabia is expected to keep prices of various grades of crude it sells to Asia little changed in May from the previous month, trade sources said on Tuesday.
The respondents also expect similar price moves for the country’s other grades Arab Extra Light, Arab Medium and Arab Heavy. However, during March, the profit margin for fuel oil, known as the crack spread, collapsed from a premium of $2.25 a barrel over Dubai crude to a discount of as low as 83 cents, reducing the value of Saudi Arabia’s heavy crudes.
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