Saudi Arabia state-owned oil company Saudi Arabian Oil Co. (Aramco) lowered its official selling price for July loadings of Arab Light to Asia to $1.20 a barrel above the Oman/Dubai average, $1.40 in June.
Aramco’s latest pricing moves suggest a softer demand outlook in Asia, with cuts across its light and medium crude grades, while the price for Arab Heavy remained unchanged.
In contrast, the company raised its prices to Northwest Europe and the Mediterranean by $1.80 per barrel. U.S. buyers saw modest increases of $0.10 for Arab Extra Light and Light, with no change to Medium and Heavy grades.
-
The decision came just as OPEC+ members agreed on Saturday to step up production for a third straight month in July, adding to concerns of a supply glut amid an uncertain demand environment.
This article was written by Eamonn Sheridan at www.forexlive.com.Hence then, the article about icymi saudi arabia lowered some july price of crude for asia raised for northwest europe was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details
Finally We wish PressBee provided you with enough information of ( ICYMI: Saudi Arabia lowered some July price of crude for Asia, raised for Northwest Europe )
Also on site :
- Here’s how 2025 killed old-school diplomacy
- Quantum Computing in Financial Services Market Set to Reach USD 6.3 Billion by 2032 as Banks Move from Experimentation to Quantum Advantage .. DataM Intelligence
- The Board of Directors of SciBase resolves on a previously communicated rights issue of shares of approximately SEK 83 million