Free Trial

Aramco Cuts August OSPs for Asia

OIL

Saudi Aramco cut its official selling prices (OSPs) for all grades to Asia for a second consecutive month in August, indicative of a weaker demand outlook in the region.

  • Aramco will reduce the price of its flagship Arab Light crude by 60 cents/bbl to $1.80/barrel above the regional benchmark for shipment in August.
  • OSP’s to Asia had been expected to be cut based on Bloomberg and Reuters surveys ahead of the official release.
  • Aramco raised all prices to Northwest Europe and the Mediterranean by 90 cents for August. Some prices to the US were also raised slightly.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.