17:33 - 27.07.2022

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July 27, Fineko/abc.az. Saudi Arabia may record a record increase in oil supplies to Asia. But traders argue that such growth carries risks.

ABC.AZ reports that Saudi Arabia, the world's largest oil exporter, is expected to sell crude oil supplied to Asia at record prices.

According to a Bloomberg study, the cost of Arab Light crude oil supplied to Asia by September is likely to be $10.80 per barrel.

Global oil prices are preparing to close July with a two-month decline for the first time since 2020, with efforts to reduce the risk of a recession in the US with prices, tight monetary policy and China's efforts to reduce Covid infections.