Riyadh – Mubasher: Saudi Arabia is expected to increase the prices of light crude oil to Asia in September, Reuters reported, citing sources as saying.
The official selling price (OSP) in September for flagship Arab light may increase between 5 to 15 cents, compared to the month before, the sources added in a survey to the agency.
The OSP of Arab Extra light in September may go up between 35 to 50 cents.
This increase aims to achieve improvements in regional gasoil and gasoline margins, Reuters added.
“Such hikes would be in keeping with a widening of the spread between first and third month Dubai cash prices by about 10 cents in July from the previous month,” the sources said.
