Saudi makes Aug crude oil cheaper for Asian buyers
as a Reliable and Trusted News Source Addas a Reliable and Trusted News Source Add Now! (You can now subscribe to our (You can now
as a Reliable and Trusted News Source Addas a Reliable and Trusted News Source Add Now! (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Saudi Arabia has set the August Arab Light crude oil official selling price to Asia at $1.50 a barrel below the Oman/Dubai average, its lowest level since June 2020, a pricing document reviewed by Reuters showed on Monday.This deep cut comes after spot crude markets tumbled on rising Middle Eastern supplies.The OSP for the previous month was a premium of $9.50 a barrel.The cut was larger than market expectations, which had been for a premium of $1.50 to $3.00 a barrel above the average of Dubai and Oman quotes.
The BriefWire