The steepest hop will hit July exports to Asia, state maker Saudi Aramco’s biggest local market. The sharp cost increases show that Saudi Arabia is using all the tools at its disposal to turn around the oil market after costs plunged into negative territory in April. Saudi Arabia made some of the biggest price increases for crude exports in at least two decades, doubling down on its system to reinforce the oil showcase after OPEC+ makers broadened notable output cuts.
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