The price hikes were implemented just days after OPEC+ had agreed to boost output in January RIYADH: Oil prices rose after top exporter Saudi Arabia raised prices for its crude sold to Asia and the US, shrugging off worries around the omicron variant and suggesting confidence in the demand outlook. Bloomberg reported that oil giant, Saudi Aramco, raised its key Arab Light grade for customers in Asia by 60 cents from December to $3.30 a barrel above a benchmark, according to a statement. The price hikes were implemented just days after OPEC+ had agreed to boost output in January. "The Saudi move to increase pricing is driving the market,” said Warren Patterson, Singapore-based head of commodities strategy at ING Groep NV. “A bit of an odd move, given the supply hike in January, the omicron uncertainty and the expectation of a better supplied market in the first quarter of 2022.”