Saudi Arabia officially announced that it would raise oil prices in Europe, the United States and Asia.What does this mean for international oil prices?

2022-04-30 0 By

Wang Ye said financial news: due to the market focus on tight supply and the United States, Iran nuclear negotiations and other news factors, Monday (7), international oil prices open high shock lower!On Monday, Brent crude hit $94 in Asia, its highest level since October 2014, while it fell back to $92.40 in Europe, down 1%.U.S. WIT crude traded as high as $92.73 before retreating to $91.06, down 1.4%.It is worth mentioning that last Friday, the international oil price rose by $2 and the weekly price was “seven consecutive red”. Of course, this was mainly due to the unrest in oil-producing countries, which once triggered the suspicion of oil supply interruption.And just this week, Saudi Arabia, one of the world’s largest oil exporters, made a surprise announcement: it was raising prices across the board for oil exports to Asia, Europe and the Americas.Saudi Aramco, the country’s state-owned oil company, has raised prices across Asia, Europe and the United States in response to rising oil prices, sources familiar with the matter said on Monday.1) For Asian customers, Arabian light crude will be sold $2.80 higher than the average price of Dubai in March and 60 cents higher than the price in February;2) Meanwhile, Saudi sales to the U.S. are $2.45 higher than the base price, or 30 cents higher than in February;3) Saudi Prices to Europe rose the most, settling at a discount of 10 cents to Brent crude in March, up $1.70 from February.So what does Saudi Arabia’s move mean for international oil prices?In response, analysts said aramco raised prices across the board for its customers in Europe, Asia and the United States, underscoring its expectation that demand will remain strong even as oil prices continue to rise.Even analysts have forecast and warned that, with Russia and Ukraine heating up and demand booming, $100 oil is just around the corner.For example, koetsu, senior economist at Nomura Securities, said that investors took advantage of the news of progress in the US-Iran nuclear talks and took profits, thus putting pressure on oil prices to pull back, but technically, new buying will soon enter the market, after all, global supply is expected to remain tight.Similarly, saito Fujitomi securities chief economist – and he also points out that investors expect the short-term there will be no agreement, the Iranian nuclear negotiations, is still bullish market atmosphere, coupled with producer organizations (OPEC +) cannot achieve production capacity, and the oil production will not increase too much, the global oil supply tight, many investment Banks is generally believed that next,International oil prices are expected to top $100.What do you think about that?What do you think will happen to international oil prices next?Note: this article is compiled by wang Ye said finance, if you need to reprint please pay attention to the account in advance, private chat contact Wang Ye himself, after obtaining authorization to reprint, reprint please original reprint, shall not carry out any graphic transformation atlas, video and other forms of reprint, infringement will be prosecuted!In addition, the views in this article are personal views, only used for learning, exchange and discussion, do not constitute investment advice!If there are omissions, mistakes, welcome criticism and correction!Thank you for reading, please leave a comment, if you like our article, you can directly like it in the following ↓↓↓.