Saudi Arabia raised its official selling prices (OSPs) for September crude deliveries to Asia for the second consecutive month, citing tight supply and strong regional demand. The price of its flagship Arab Light crude was increased by $1 from August, now set at $3.20 per barrel above the Oman/Dubai benchmark—broadly in line with market expectations.
The move comes as India is expected to increase purchases of Saudi and Middle Eastern crude following new U.S. tariffs. Trump recently imposed an additional 25% duty on Indian goods in response to New Delhi’s continued imports of Russian oil. Refining sources suggest this could prompt Indian buyers to pivot more heavily toward Gulf producers.
Saudi Aramco also raised prices for U.S. buyers, while lowering them slightly for European customers.
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