Saudi Arabia Has Now Reduced The Premium To $3.50 Per Barrel From Around $10 In The Past Year
Portfolio Pulse from Benzinga Newsdesk
Saudi Arabia has reduced the premium on its oil to $3.50 per barrel, a significant decrease from around $10 in the past year.
September 20, 2023 | 7:03 pm
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The reduction in Saudi Arabia's oil premium could potentially impact the United States Oil Fund (USO), which tracks the price of oil.
The United States Oil Fund (USO) tracks the price of oil. A significant reduction in the premium of Saudi Arabian oil could potentially lead to changes in the global oil market, which could in turn affect the price of USO. However, the exact impact is uncertain and will depend on a variety of factors, including how other oil-producing countries respond.
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