Riyadh – Mubasher: The Saudi Arabian Oil Co, known internationally as Saudi Aramco, has set propane price in November contracts at $540 per tonne, down from $655 in October.
The world's largest oil producer has slashed butane price to $525 per tonne in the next month deals, compared to $655 this month, according to Reuters.
Aramco’s propane price is considered a benchmark standard for pricing the Middle East sales of liquefied petroleum gas (LPG) to Asia.
On a separate note, a recent report noted that Aramco is looking to allocate 2-3 million barrels per day (bpd) for the petrochemical sector.
