Saudi Arabia Raises Official Selling Prices For Oil to Asia in August

Saudi Arabia decided to raise the official selling prices for the month of August for all oil crudes designated to be sold to Asia.

Saudi Arabia, the world’s largest oil exporter, set the August official selling price for its Arab Light crude at $2.70 a barrel, above the Oman/Dubai average for Asian buyers, up 80 cents from July, according to a pricing document seen by Reuters on Tuesday.