THE jump in Saudi Arabia’s crude oil prices for its Asian customers is a real world example of how the Russian invasion of Ukraine is starting to force a realignment of global oil markets.
Saudi Aramco, the state-controlled producer, raised its official selling price (OSP) for its flagship Arab Light crude for Asian refiners to a record premium of US$9.35 (RM39.38) a barrel above the Oman/Dubai regional benchmark.
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