(Bloomberg) — Saudi Arabia’s steep hikes to its crude prices for July have shocked some Asian refiners even as the region leads a rebound in global energy consumption following coronavirus lockdowns.Aramco’s price boost for its flagship Arab Light crude to Asia — which accounts for more than half of Saudi oil sales — was the biggest in at least 20 years, exceeding the most bullish expectations in a Bloomberg survey. However, two refiners are still seeking to buy their regular volumes because of the lack of alternative options, while another processor is weighing whether to replace some cargoes from the …read more
Source:: Yahoo Finance
