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 said on Tuesday, Trend reports with reference to Reuters.
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.
Saudi term crude supplies to Asia are priced as a differential to the Oman/Dubai average: