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Saudi Arabia to keep the Crude prices fluctuating this May

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Saudi Arabia to keep the Crude prices fluctuating this May

Image Credit-Worldatlas.com

The Top oil exporter Saudi Arabia is assumed to be keeping the prices of the various grade of crudes that are sold to the Asian countries said the trade sources on Tuesday.

Saudi Aramco might lose the official selling price (OSP) for its flagship by 5 cents,  Arab Light crude a barrel for May, according to the median of responses of five refining sources. The sources gave a range of an increase of 5 cents to a cut of 25 cents.

Saudi Arabia, which is cutting output to reduce global inventory levels to a target in line with the five-year average of supplies, stopped giving additional light crude supplies to some Asian refiners from March.

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