Saudi Arabia may cut August crude oil prices to Asia: sources - Reuters:
Top oil exporter Saudi Arabia is expected to cut prices of most crude grades it sells to Asia in August after Middle East benchmarks weakened last month, trade sources said on Tuesday.
That would mark the first reduction in Saudi crude prices to Asia in five months after sanctions on Venezuela and Iran tightened supplies and boosted prices for replacement oil from the Middle East.
The official selling price (OSP) for flagship Arab Light crude to Asia could fall between 30 and 50 cents a barrel in August after hitting the highest since January 2014 in July, a Reuters survey of five refiners showed.
No comments:
Post a Comment