Saudi Arabia Cuts June Oil Prices by Less Than Expected as Hormuz Risks Persist

Saudi Arabia Cuts June Oil Prices by Less Than Expected as Hormuz Risks Persist

Saudi Arabia has reduced the official selling price of its flagship crude loading for Asia in June from the May record high, but the price cut was less than expected. Next month’s supply from the world’s top crude exporter would still see the second-highest premium to benchmarks in history.   Saudi oil giant Aramco has announced that its flagship Arab Light grade loading for Asia in June would be priced at $15.50 per barrel above the Oman/Dubai …

Saudi Arabia cuts Arab Light June OSP for Asia

May 5 : Saudi Arabia has set the June Arab Light crude oil official selling price to Asia at $15.50 a barrel above the Oman/Dubai average, down from the previous month, Saudi Aramco said in a statement on Tuesday.The OSP premium for the previous month was $19.50 a barrel.

Saudi Arabia cuts Arab Light June OSP for Asia from record levels

The OSP premium for the previous month was $19.50 a barrel

Saudi Arabia cuts oil prices for June from record-high premium

Global benchmark Brent has increased by more than 50% since the conflict started at the end of February