Saudi Arabia raises August crude oil official selling prices for Asia

Top exporter Saudi Arabia has raised the August official selling prices (OSPs) of all crude grades it sells to Asia, a pricing document seen by Reuters showed on Tuesday.

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 term crude supplies to Asia are priced as a differential to the Oman/Dubai average:

ASIA
AUGUST JULY CHANGE
SUPER LIGHT +3.85 +2.85 +1.00
EXTRA LIGHT +2.70 +1.90 +0.80
LIGHT +2.70 +1.90 +0.80
MEDIUM +2.15 +1.35 +0.80
HEAVY +1.20 +0.40 +0.80