Saudi Arabia Raises May Crude Prices Globally, Asia at Record Levels

Asia saw the biggest price increases across all crude grades, followed by Northwest Europe, the Mediterranean and the United States.

Florence Tan and Swati Verma, Reuters

Saudi Arabia, the world's top oil exporter, raised crude prices for all regions, with those to Asia hitting all-time highs as disruption in Russian supplies support prices, according to a pricing document seen by Reuters on April 4.

State oil producer Saudi Aramco raised its May official selling price (OSP) to Asia for its flagship Arab Light crude to $9.35 a barrel above Oman/Dubai crude, the grade's highest premium ever.

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