Saudi Arabia has cut its official selling price for flagship Arab Light for delivery to Asia, Reuters reports, citing a company document. The price cut is half a dollar per barrel from June prices, the document showed, giving Arab Light’s OSP for Asian buyers a $2.40 premium over the Dubai/Oman benchmark. Prices for other Saudi oil grades sold in Asia were also cut, by between $0.40 and $0.60 per barrel, the report also said. At the same time, however, Aramco hiked the price of the crude it sells to Europe. The official selling price…
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