Saudi Arabia may decline crude oil price for Asia in Feb 2022
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Update time : 2021-12-31 18:11:01
According to the information from the market, the crude oil futures price showed a dramatic decline this month, which might cause Saudi Arabia to decline their crude oil price to Asia in February.
In the past few weeks, the members of OPEC have agreed to increase their output to control the market price, plus the demand for crude oil is easing gradually due to many of the Asian refineries being ready to do the annual maintenance in the second quarter of the year, both added the pressure on the crude oil market price.
Asia market was the most important market for Saudi Arabia, counted as over 50% of its crude oil exports, the market believed the selling price of crude oil for Asia would be decreased in next year.
