Saudi Arabia, the world's top oil exporter, raised prices for its flagship crude for Asian buyers for the first time in six months amid an expectation of oil demand recovery, especially from China, according to Reuters.
Informed sources reported Monday that the official selling price (OSP) of Arab Light crude, March loading to Asia, rose 20 cents per barrel from February to $2 per barrel over the average of Oman and Dubai oil, contrary to previous market forecast to drop 30 cents.
