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Asia's demand is set to slow as refineries prepare for seasonal maintenance in the second quarter

Oil futures and Brent crude extended gains into early trade Tuesday, with U.S. crude benchmark trading above $71 per barrel (bbl) following preliminary research data suggesting the Omicron variant of coronavirus induces mild cases of the disease.

Saudi Aramco increased all of its January official selling prices for Asia and US-bound cargoes despite fears about the impact of the omicron variant on global oil demand. The price move follows the Dec. 2 meeting of OPEC and its allies when the group agreed to increase crude production as planned by 400,000 b/d in ...

Saudi Aramco raised official selling prices of its January-loading crude for Asian buyers by a smaller margin than expected on concerns of potentially weakening fundamentals for the global oil markets, sources told S&P Global Platts. Oil supplies are expected to rise because higher production by OPEC+ and the release of strategic petroleum reserves by major ...

Top oil exporter Saudi Arabia may raise crude prices for Asia in January following large gains in the Middle East spot market last month, but weak refining margins and an oil reserves release by consumers may cap gains, trade sources said.