Saudi Arabia ups August crude prices to Asia
DUBAI: Saudi Arabia’s state oil producer Aramco has hiked official selling prices (OSPs) for its crude to Asia by $1 a barrel in August, and raised the OSPs for almost all grades to Europe and the United States.
Saudi Arabia has set the August price to Asia at plus $1.20 a barrel versus the Oman/Dubai average, Aramco said in a statement on Monday.
The increase was in line with market expectations on rising Middle East benchmarks and a rebound in Asian refining margins, a Reuters survey found.
