The world’s largest oil exporter, Saudi Arabia, raised on Wednesday its official selling prices for crude oil loading for Asia in September in a widely expected move tracking stronger Middle East oil benchmarks. Saudi oil giant Aramco lifted its official selling price (OSP) for its flagship Arab Light grade for key customer Asia by $0.30 a barrel to a premium of $3.00 a barrel above the Dubai/Oman benchmark, off which Middle Eastern producers price their oil going to Asia, according to an Aramco price list seen by Reuters. The pricing of Saudi crude oil generally sets the trend for the pricing for Asia of other Gulf oil producers such
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