Saudi Arabia may raise Aug crude prices to Asia to near record levels

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Saudi Arabia may raise Aug crude prices to Asia...
 © CyprusMail 2022
Top oil exporter Saudi Arabia may raise prices of light crude grades to Asia for the second straight month in August on the back of record distillate margins and strong spot premiums for Middle Eastern oil this month.

The official selling price (OSP) for Saudi’s flagship Arab Light crude could rise by about $2.4 a barrel from the previous month, according to nine refining sources surveyed by Reuters on June 28-29.

The price hike would drive the August OSP close to record levels, set when May Arab Light crude reached $9.35 a barrel.

“Refining margins are very solid and we expect...


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Article automatically added to our system on Thursday, June 30, 2022

Saudi Arabia may raise Aug crude prices to Asia to near record levels


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Article Tags: #saudi   #arabia   #raise   #crude   #prices   #record   #levels  


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