According to the China Business Network News Express Financial reports, Saudi Aramco released an e-mail announcement to the media on September 4, The price of light crude oil which sold to Asia will be raised 30-55 cents per barrel. The Adjusted prices will reach the highest level this year. It is worth to mention that this is the second consecutive month for Saudi Arabia to raise the price of light crude oil.
According to the statement, the price of other grades crude oil of Saudi Aramco which exports to Asia in October will rise also, the float range from 30 cents a barrel to 80 cents a barrel.
Media quoted consulting firm Qamar Energy CEO Robin Mills said, Saudi prices show the strength of the Asian market demand, Hurricanes weakened US oil refining and pushed up gasoline prices, This could also increase the price of Saudi Arabia to export light crude oil to Asia higher than expected.
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