Saudi Arabia raises oil prices for buyers in Asia, United States

Saudi Arabia raised oil prices for buyers in Asia and the US, days after Opec and its allies made a surprise decision to increase output.

The move signals that the world’s biggest crude exporter still sees strong demand in its two main markets, despite the spread of the omicron variant of the coronavirus.

State producer Saudi Aramco increased January’s prices for all crude grades that will be shipped to Asia and to the US. The company raised the key Arab Light grade for customers in Asia by 60 cents from December to $3.30 a barrel above a benchmark.

Aramco had been expected to