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Saudi Aramco Raises Oil Prices for Asia, US
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Hydrogen Purification Technologies Market Report 2021-2031
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By David Hodari Saudi Arabian Oil Co. on Wednesday cut all of the prices at which it will sell oil to Asia and Europe in June, while slightly raising its prices for the U.S., signaling the struggles some of Europe s and Asia s economies have faced in keeping coronavirus infection rates at bay. The state-run company, also known as Saudi Aramco, cut all prices for Far East Asia, lowering its Arab light crude oil by 0.10 cents a barrel to a 1.70 cents-a-barrel premium to the Oman/Dubai average. Meanwhile, Aramco cut its light crude sale price to Northwest Europe by 0.50 cents a barrel, leaving it at a 2.90-cents-a -barrel discount to Brent crude oil traded on the Intercontinental Exchange, while lowering its light crude sale price for the Mediterranean by 0.20 cents a barrel to give it a 2.30-cents-a-barrel discount to ICE Brent.
Saudi Aramco has a tremendous first quarter as profits rise 30% | Business and Economic News
Saudi Aramco’s profits rose 30 percent in the first quarter of the year as COVID’s devastated economies revived and oil demand revived.
Saudi Aramco said on Tuesday that its profits rose 30% in the first quarter of the year compared to last year, lagging behind the highest crude oil prices. The results are that some of the world’s largest economies are emerging from recession and easing restrictions on the spread of vaccines against COVID-19.
The company’s financial results show a net profit of $ 21.7 billion in the first three months of the year, when Aramco’s profits rose to $ 16.7 billion in 2020, when the first effects of the coronavirus pandemic began to significantly drop global demand. for oil. Crude Brent fell about $ 20 a barrel to its lowest point last year.