Saudi Arabia Raises The Price Of Oil For The U.S. But Lowers Or Keeps It Unchanged For Europe And Asia

Saudi Arabia's Energy Minister Abdulaziz bin Salman during a news conference following an OPEC+ meeting in Vienna, Austria, on Oct. 5.Photographer: Akos Stiller/Bloomberg  

Bloomberg: Saudi Arabia Defies Expectations and Keeps Oil Prices Steady 

Saudi Arabia kept oil prices for its main market of Asia largely steady and lowered those for Europe, going against expectations it would hike them and pile more pressure on consumers a day after OPEC+ opted to slash production. 

State-controlled Saudi Aramco left its key Arab Light grade for November shipments to Asia unchanged from this month at $5.85 a barrel above the regional benchmark. 

Refiners and traders predicted a raise of 40 cents, according to a Bloomberg survey from last week. “It is a surprise,” said Tamas Varga, an analyst in London at brokerage PVM Oil Associates.  

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Update #1: Saudi Arabia lowers oil prices for Europe but raises them again for the US as White House says OPEC+ is siding with Russia (Market Insider)  

Update #2: Saudi Arabia hikes oil prices for US – Bloomberg (RT)  

WNU Editor: This is not going down well in Washington. U.S. lawmakers are accusing Saudi Arabia of siding with Russia .... US lawmakers want to punish Saudi Arabia and UAE (RT). Truth be told it is the U.S. that is trying to influence oil prices via through price caps, sanctions, and releasing oil from the Strategic Reserve. The Saudis are doing what any other sovereign country would do. Protect their own interests.