Overview
- Saudi Aramco set Arab Light for Asia at $1.00 a barrel above the Oman/Dubai average for December, down $1.20 from November.
- Arab Extra Light to Asia fell by $1.20 to a $1.30 premium, while Arab Medium and Arab Heavy were reduced by $1.40 to $0.05 and $0.10 over the benchmark.
- Ras Tanura loadings to the United States were trimmed by about $0.50 across grades, and prices to Northwest Europe and the Mediterranean were unchanged month on month.
- OPEC+ has lifted output targets by roughly 2.9 million barrels per day since April, with a 137,000 bpd rise set for December followed by a pause on further hikes in early 2026.
- Analysts said the changes were in line with expectations, and immediate trading showed little reaction with oil prices holding roughly flat.