Biden Urges OPEC+ To Raise Output Amid Soaring Crude Prices ...Middle East

Saudi Aramco has raised the August official selling prices of crude to Asia, as the oil market tightens, sparking fears of another oil price war and prompting the Biden administration to call on OPEC to settle its internal differences and start bringing more oil to markets, Bloomberg has reported, citing administration insiders. Aramco has set the August OSP for Arab light at $2.70/barrel, up 80 cents per barrel from July’s price, Reuters reports, while the OSP to the United States was set up 20 cents a barrel for August. Rising oil prices…

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