Bloomberg writes about it.

Although oil futures have fallen somewhat this year, many energy traders and executives see them rising — perhaps to $100 a barrel — as China's economy recovers from the lifting of coronavirus lockdowns and inflation slows in other large economies.

State-controlled Saudi Aramco raised most of its official selling prices for Asia in April.

The company's main grade, Arab Light, was lifted to $2.50 a barrel above the regional level, up 50 cents from the March level.

Prices for US customers remain unchanged.

Prices for Northwest Europe and the Mediterranean jumped as much as $1.30 per barrel.

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Brent crude fell 0.1% this year to $85.83 a barrel.

It has fallen to ≈ from $115 since mid-2022 as the global economy slows and higher interest rates counter supply disruptions caused by Russia's full-scale invasion of Ukraine. 

Saudi Arabia is the world's largest oil exporter and leads the OPEC+ group of producers along with Russia.

The 23-nation alliance suggested it would not increase production until at least next year.

UAE officials are denying reports that they are considering leaving OPEC

Aramco sells about 60% of its crude oil supply to Asia, most of it under long-term contracts whose prices are revised monthly.

The biggest buyers are China, Japan, South Korea and India.

The company's pricing decisions are often followed by other Gulf producers such as Iraq and Kuwait.

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