Asian buyers rebuff Saudi price hike, strengthening India's bargaining power

摘要

Market watchers expected Saudi Aramco to lower its official selling price (OSP) for May deliveries of Arab Light by 50-60c/bbl, but the company raised the OSP by 10c/bbl to $1.20/bbl over Oman/Dubai. Aramco did not reveal why it increased the price, but many market watchers believe the company wants to keep a high floor under oil prices ahead of its IPO. The listing is expected to be more successful if Brent-currently in the $67/bbl range-is selling for more than $70/bbl. Some other Aramco grades saw reductions in their OSPs, but not as deep as had been expected.