Higher Oil Prices Are Here to Stay: Energy Aspect’s Sen Saudi Arabia sent another bullish jolt into the oil market a day after OPEC+ ignored President Biden’s calls for more oil, raising sharply the official selling price of all the nation’s crudes to all buyers. Aramco increased pricing for its key Arab Light grade of crude for Asian customers in December by $1.40 to $2.70. The state producer had been expected to raise it by between 50 cents and $1 a barrel, according to a survey last week. Excluding a brief period last year when Saudi Arabia and Russia were coming out of a price war, the month-on-month price increase for Arab Light to Asia is the second largest in 20 years. “The Saudi official selling prices for December are stronger-than-expected,” said Amrita Sen, chief oil analyst at consultant Energy Aspects Ltd in London. The cartel ignored calls from […]