Saudi Arabia is expected to cut the official selling price of its crude oil for Asia in October due to weak refining margins in China and the wider Asian region.
Worsening refining margins in China and the wider Asian region and weaker Dubai benchmark prices could make the world’s top crude oil exporter, Saudi Arabia , reduce the price of its crude loading for Asia in October, a Reuters survey of refining industry sources showed on Monday. Saudi Aramco, the world’s top crude oil exporter, is expected to cut the official selling price OSP of all its crude grades for Asia in October, according to the survey of five refining sources.
However, other refiners expected unchanged or little-changed Saudi crude prices for Asia for October in view of some strength in the Dubai prices in the last week of the trading window of August. Saudi Arabia typically announces its OSPs for the following month around the fifth of each month and does not comment on the pricing.
Crude Oil Official Selling Price (OSP) OPEC+ Asian Refining Margins Dubai Benchmark Oil Market Global Supply Energy Prices
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