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Saudi Aramco Seen Cutting Arab Light OSP to Asia by 40c for July

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Saudi Aramco may cut prices for its crude sold to Asia in July for the first time in five months, according to a Bloomberg survey.

  • The median estimate in the Bloomberg survey for Arab Light sales for a July was a 40 cents/b decline on the month. This is similar to an earlier estimate from Reuters which forecast a 30-50 cents/b fall.
  • For Arab extra light crude OSP to Asia in July, responses ranged from a 40-70 cents/b decline.
  • Asian refiners have been hit with persistently weak margins in recent months while Middle East benchmarks have also weakened.
  • OSPs are typically released within the first five days of the month.
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Saudi Aramco may cut prices for its crude sold to Asia in July for the first time in five months, according to a Bloomberg survey.

  • The median estimate in the Bloomberg survey for Arab Light sales for a July was a 40 cents/b decline on the month. This is similar to an earlier estimate from Reuters which forecast a 30-50 cents/b fall.
  • For Arab extra light crude OSP to Asia in July, responses ranged from a 40-70 cents/b decline.
  • Asian refiners have been hit with persistently weak margins in recent months while Middle East benchmarks have also weakened.
  • OSPs are typically released within the first five days of the month.