Saudi Arabia raises August crude oil official selling prices for Asia

Saudi Arabia raises August crude oil official selling prices for Asia By A Robin Rajkumar - July 07, 2021

General view of Saudi Aramco's Ras Tanura oil refinery and oil terminal in Saudi Arabia May 21, 2018. REUTERS/Ahmed Jadallah

Top oil exporter Saudi Arabia has raised the August official selling prices (OSPs) of all crude grades it sells to Asia, the country's state oil producer Aramco (2222.SE) said on Tuesday.

It set the August OSP for the flagship Arab light crude at $2.70 a barrel above the Oman/Dubai average for Asia, up 80 cents from July.

Saudi Arabia set its Arab Light OSP to northwest Europe at a discount of $1.10 a barrel against ICE Brent for August, compared with a discount of $1.90 for July, Aramco said.

The OSP to the United States was set at a premium of $1.25 a barrel over Argus Sour Crude Index (ASCI), $0.20 up from July.

By A Robin Rajkumar - July 07, 2021

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