Saudi Arabia reduces Arab Light crude prices for Asia to $9.50 per barrel over Oman/Dubai benchmarks, marking a second consecutive monthly cut.
Saudi Aramco lowered its official selling prices for July-loading crude across Asia, Europe, and the U.S. by $6 per barrel. The move reflects weakening demand and shrinking spot premiums for Middle East crude, according to pricing documents.
The reduction sets Arab Light crude for Asia at a $9.50 per barrel premium over the Oman/Dubai benchmark, down from prior levels. This marks the second straight monthly cut after similar adjustments in June.
The decision aligns with market expectations as regional demand softens and global oil inventories remain elevated.