March 4, 2012 / 6:24 PM / 6 years ago

Saudi Arabia raises Arab light oil price to Asia

DUBAI (Reuters) - Saudi Arabia has raised the price of its flagship Arab Light crude oil for customers in Asia, who buy more than half its crude exports, by $1.25 a barrel for April, while cutting prices for U.S. and European buyers, state-run Saudi Aramco said on Sunday. Saudi Aramco has set the Arab Light price for Asian buyers at Oman/Dubai average plus $2.80 per barrel for April, up from $1.55 for March.

Reporting by Daniel Fineren

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