Top oil exporter Saudi Arabia is expected to raise April prices for most of the crude grades it sells to Asia, following a strengthening of West Asian oil benchmark Dubai over the past month, several trade sources said on Thursday.
The April official selling price (OSP) for flagship Arab Light crude could remain unchanged or rise by up to 35 cents a barrel from the previous month, four refining sources said in a Reuters survey.
This comes after backwardation in the first and third month Dubai price spread widened by 30 cents a barrel during February trade compared with the previous month, the sources said.
