Open Demo Account
Home / Economic Report / Saudi Arabia Might Raise the Selling Price of Crude Oil to Asia for August

Saudi Arabia Might Raise the Selling Price of Crude Oil to Asia for August

Adel 1 July, 2020 3:34 pm Economic Report, Market Update

According to Reuters, Saudi Arabia may raise its August official selling price (OSP) for crude oil sold in Asia. That would be the third monthly price hiking due to an increase in Middle East benchmarks and a rebound in Asian refining margins.

As of August, Middle East crude supply may increase as OPEC and Russia are likely to ease record cuts in oil production.

On the other hand, Reuters cited OPEC+ sources saying that there were no discussions regarding extending record cuts until Augusts. 

Tags

Check Also

Policymaker: ECB’s first rate cut can be in June, second in September

Bundesbank President Joachim Nagel has advised the European Central Bank (ECB) to exercise caution in …

This site contains information and opinions for the purpose of providing only general information and can not be relied upon. The information and opinions contained in this Site shall in no way constitute an offer or solicitation to buy, sell or subscribe to any investment product. Users of this site shall bear any risks arising from the use of any information, opinion, program, service or material. Noor Trends reserves the right to make any change to the Site, the information, opinions, materials, products, programs, services or prices (if any) at any time without notice.
All copyrights reserved Noor Trends