Saudi Arabia raised pricing for February oil sales to Asia and increased premiums for light grades to the U.S. as the world’s largest crude exporter prepares to reduce output to help counter a global oversupply. State-owned Saudi Arabian Oil Co., known as Saudi Aramco , increased its official pricing for Arab Light crude to Asia by 60 cents a barrel to 15 cents below the regional benchmark, it said in an e-mailed statement. The company had been expected to increase the pricing for shipments of Arab Light crude by 50 cents a barrel, according to the median estimate in a Bloomberg survey of five refiners and traders. Oil jumped 52 percent last year, its first annual gain in four years as OPEC agreed to reduce production for the first time in eight years. The Organization of Petroleum Exporting Countries and 11 […]