Saudi Arabia is preparing to slightly increase the selling price of its flagship crude oil to Asian markets in November, industry sources have revealed.

According to a survey conducted by Reuters, refiners expect the state-owned giant Saudi Aramco to raise the price of its Arab Light crude by between 20 and 40 cents per barrel. That would put the grade at a premium of $2.40–$2.60 per barrel over the Dubai/Oman benchmark. The move reflects stronger Middle Eastern oil benchmarks seen in recent weeks.

Other Saudi grades, including Arab Extra Light, Arab Medium, and Arab Heavy, are also projected to see price adjustments ranging from 30 to 60 cents per barrel compared with October levels.

While higher pricing signals stronger demand, analysts note Riyadh will remain cautious not to raise prices too aggressively. Talks are currently underway with buyers over long-term 2026 supply agreements, meaning a balance between profit and customer retention is key.

The decision follows Saudi Arabia’s price cut for October cargoes, a strategy interpreted by analysts as an effort to protect its share in Asia after OPEC+ announced it would unwind the last phase of its 1.65 million barrels-per-day output cuts.

Industry watchers say the expected November hike also mirrors a surge in Dubai crude premiums earlier this month, which hit six-month highs amid speculation of tighter supplies if additional sanctions were imposed on Russia or Iran.

However, oil markets turned downward on Monday after exports resumed from Iraq’s Kurdistan region following a two-and-a-half-year suspension. Traders are also closely monitoring the upcoming OPEC+ meeting, where producers may discuss further increases in output.

Saudi Arabia typically announces its monthly crude pricing around the fifth day of each month and rarely comments in advance on expected changes. As the world’s largest oil exporter, its decisions often set the benchmark for other Middle Eastern producers supplying Asia, the globe’s biggest oil-importing region.