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Saudi Arabia May Cut July Arab Light OSP To Asia

OIL

Saudi Aramco may cut the official selling price of its flagship Arab Light crude by 63c/bbl month on month for July sales to Asia, according to the estimate in a Bloomberg survey of eight refiners and traders.

  • The Arab Light OSP differential for July is estimated at a $1.92/bbl premium to the Oman-Dubai benchmark.
  • Saudi Aramco had lowered its OSP for June for all Asian customers. The company’s Arab Light grade was reduced to $2.55/bbl above the regional benchmark, 25 cents less than the price for May.
  • A softening US economy and weak manufacturing data in China had triggered the drop in crude prices for June, while refining margins have sunk.
Energy BulletsCommodities
Energy BulletsCommodities

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