Saudi Arabia is expected to reduce the price of its crude oil going to Asia in August to reflect market movements, a Reuters survey of six Asian refining sources showed on Monday. Saudi Aramco, the world’s top crude oil exporter, is set to reduce the official selling price (OSP) for the flagship Saudi grade, Arab Light, by around $0.50 per barrel compared to the loadings for July, according to the Reuters poll. Saudi Arabia typically announces on the fifth of each month the OSPs for the following month and its pricing…
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