Saudis Seen Giving Asia Smaller Oil Discounts on Signs of Demand
This article is for subscribers only.
Saudi Arabia will probably offer smaller discounts to ship crude to Asia amid speculation demand will increase after benchmark prices dropped almost 50 percent last year.
The world’s biggest oil exporter will announce February official selling prices to buyers in Asia in coming days, after offering its Arab Light grade at the biggest discount in at least 14 years the previous month. OPEC’s largest producer may narrow the discount, according to 12 of 15 traders and refiners in a Bloomberg News survey through today. Three respondents forecast price differentials to be unchanged.