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Aramco May Cut Asian OSP's in July: Reuters

OIL

Saudi Aramco may cut prices for most of its crude it sells to Asia in July – the first in 5-months according to Reuters sources.

  • Asian refiners have been hit with persistently weak margins in recent months while Middle East benchmarks have also weakened.
  • The July official selling price (OSP) for flagship Arab Light crude is expected to fall by 30 to 50 cents a barrel Reuters reported.

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Saudi Aramco may cut prices for most of its crude it sells to Asia in July – the first in 5-months according to Reuters sources.

  • Asian refiners have been hit with persistently weak margins in recent months while Middle East benchmarks have also weakened.
  • The July official selling price (OSP) for flagship Arab Light crude is expected to fall by 30 to 50 cents a barrel Reuters reported.

Keep reading...Show less