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Saudi Arabia raised the official selling price of light crude oil for September.
Jin10 data reported on August 6, Saudi Arabia will set the official selling price (OSP) for Arab Light crude oil sold to Asia in September at a contango of $3.20 per barrel compared to the Oman/Dubai average price, with the contango in August being $2.20 per barrel. The official selling price (OSP) for Arab Light crude oil sold to the United States in September will be set at a contango of $4.2 per barrel compared to the Oman/Dubai average price, and the official selling price (OSP) for Arab Light crude oil sold to North West Europe in September will be set at a contango of $3.35 per barrel compared to the Oman/Dubai average price.