July 4, 2019 / 11:01 AM / 19 days ago

Saudi Arabia lowers August Arab Light crude OSP to Asia

SINGAPORE (Reuters) - Saudi Aramco has set the August official selling price (OSP) for Arab Light crude for sale to Asia at $2.45 a barrel above Oman-Dubai quotes, Aramco said in a statement on Thursday.

The price is 25 cents a barrel lower than the previous month.

The August OSP for Arab Super Light crude was set at a premium of $4.45 a barrel while the OSP for Arab Extra Light crude was at a premium of $2.65 a barrel.

Arab Medium crude’s OSP for August was at a premium of $1.75 a barrel and Arab Heavy was priced at a premium of 85 cents a barrel.

All the prices for Asia are set at differentials to the monthly average price of Platts Dubai and DME Oman.

Reporting by Florence Tan and Dahlia Nehme, writing by Roslan Khasawneh; editing by Susan Fenton and Edmund Blair

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