According to foreign sources on June 5th, a document seen on Wednesday showed that Saudi Arabia has set the official selling price (OSP) of its flagship product, Arab light crude oil, for Asia in July to be $2.40 higher than the average price in Oman/Dubai.

This marks a $0.5 decrease in official selling price per barrel compared to June, the first decrease in five months, which is in line with market expectations.

Saudi Arabia will also lower the official selling price of other grades of crude oil sold to Asian customers by 0.4-0.6 US dollars.

Saudi Aramco has set the official selling price of Arab light crude oil in Northwest Europe to be $3.10 higher than the Intercontinental Exchange (ICE) Brent crude oil, an increase of $1 from June.

The company will increase the official selling price of other oil products in Northwest Europe and the Mediterranean region by $1.

The official selling price of Arab light crude oil in the United States is set at $4.75 higher than the Argus Sour Oil Price Index (ASCI).

The official selling prices of all oil products in the United States remain unchanged from June.

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