Home Sources: Saudi Arabia expected to hike crude prices to Asia in July for third month – Reuters

Sources: Saudi Arabia expected to hike crude prices to Asia in July for third month – Reuters

Published date: 30 May. 2019 | 05:22

According to trade sources, Saudi Arabia is likely to lift prices for all crude grades it sells to Asia in July for a third straight month, Reuters reports.

A Reuters survey of four sources at refineries showed that the top oil exporter is likely to increase the official selling price (OSP) for flagship Arab Light crude by up to $1 a barrel to the highest since January 2014.

One of the sources said: The market structure “is very bullish but refining margins do not support that”.

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