Saudi Arabia Poised for Record Heavy-Crude Premiums on Fuel Oil

Bloomberg reported that Saudi Arabia is selling its lowest-grade crude at record premiums to buyers in Asia.

As quoted in the market news:

Saudi Arabian Oil Co., the state-owned producer, is likely to offer Arab Heavy oil for January at 25 cents a barrel more than benchmark Oman and Dubai crude when prices are announced next week, up 50 cents from December, according to the median estimate of nine refiners surveyed by Bloomberg.

Click here to read the full Bloomberg report.