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Saudi Arabia Raises Oil Prices Following OPEC+ Meeting

Posted on AllSides June 5th, 2023
From The Center

Saudi Arabia raised its July prices for crude sales to Asian buyers on Monday, a day after an OPEC+ meeting in which it said it would slash oil output by 1 million barrels a day. Saudi Arabian Oil Co., commonly known as Saudi Aramco, raised prices for its benchmark Arab light crude by $0.45 a barrel for Asian buyers. The price the state oil giant sets is seen as a barometer for how Saudi Arabia views the outlook for oil demand in China, one of its largest markets and a...

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