The CEO of the Corum Center for Strategic Studies, Tariq Al-Rifai, considered in an interview with Al-Arabiya that the recent correction in oil prices may not end soon before energy markets return to balance.
Al-Rifai added that the “OPEC +” group does not change its policies based on concerns, and there must be something clear that causes this change in policy.
He referred to the movement of oil prices, historically, and therefore it will be expected that prices will correct by 20% before resuming the rise, when in fact they witnessed a correction of 10%.
She said Saudi Aramco on Sunday raised the official selling price for Arab crude Light oil to Asia rose to $3.30 a barrel above the Oman/Dubai average for January, an increase of $0.60 from December.
The company set the selling price of crude to Northwest Europe at $1.30 a barrel, below the price of Brent on the Intercontinental Exchange, and to the United States at $2.15, above the Ascii index.
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