Oil at Three-Month High as Saudi Raises Prices for Asia

The video discusses the current state of the oil market, highlighting its tight conditions and recent price movements. It covers the impact of OPEC's decisions and Saudi Arabia's unexpected price hikes for Asian customers. The lifting of COVID restrictions in Asia has led to a significant economic rebound, increasing demand for oil. Despite these changes, prices for US buyers remain stable. The video concludes with an analysis of the oil market's future, noting a significant increase in oil prices this year and the broad range of expectations for future trends.

What recent event caused oil prices to break higher in Asia trading?

• A new oil discovery

• A natural disaster

• A change in US policy

• OPEC's decision

How much did Saudi Arabia raise the price for light Arab crude for its Asian customers?

• $1.50

• $2.50

• $1.00

• $2.10

Which regions in Asia are experiencing a rebound as COVID restrictions are lifted?

• India and Pakistan

• Japan and South Korea

• Singapore and China

• Thailand and Vietnam

By how much have oil prices increased so far this year?

• 35%

• 20%

• 50%

• 65%

What is the expectation for future oil price movements?

• Stable prices

• Widest range ever

• Decreasing prices

• Narrowest range ever