ICYMI: Saudi Arabia lowered some July price of crude for Asia, raised for Northwest Europe
Saudi Arabia state-owned oil company Saudi Arabian Oil Co. lowered its official selling price for July loadings of Arab Light to Asia to $1.20 a barrel above the Oman/Dubai average, $1.40 in June. Aramco’s latest pricing moves suggest a softer demand outlook in Asia, with cuts across its light and medium crude grades, while the price for Arab Heavy remained unchanged.In contrast, the company raised its prices to Northwest Europe and the Mediterranean by $1.80 per barrel.
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