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Saudi Arabia Poised for Record Heavy-Crude Premiums on Fuel Oil
Dec. 02, 2011 12:20PM PST
Oil and Gas InvestingBloomberg reported that Saudi Arabia is selling its lowest-grade crude at record premiums to buyers in Asia.
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.
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