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Saudi Arabia is expected to increase crude oil prices for the Asian market as a result of the attack on two Saudi oil facilities and the subsequent reduction in oil output. While the official selling price for Arab Light Crude is expected to jump more than 50 cents per barrel, experts say that prices for November are difficult to forecast due to additional supplies provided to Asian customers by Saudi Arabia, as well as a rapid return to pre-attack production levels.

Saudi Oil Prices for Asia Are Expected to Increase in November

Saudi Arabia is expected to increase crude oil prices for the Asian market as a result of the attack on two Saudi oil facilities and the subsequent reduction in oil output. While the official selling price for Arab Light Crude is expected to jump more than 50 cents per barrel, experts say that prices for November are difficult to forecast due to additional supplies provided to Asian customers by Saudi Arabia, as well as a rapid return to pre-attack production levels.

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