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Saudi Arabia Likely to Cut August Asian Crude Oil Prices by Up to $8 per Barrel, Reuters Survey Shows

2026-06-26 09:09:23

According to a Reuters survey released on June 26, Saudi Arabia is likely to significantly reduce its official selling prices for August crude oil shipments to Asia, with industry sources citing a decline of 6.5 to 8 dollars per barrel compared to July prices. The kingdom's flagship Arabian Light crude is expected to be priced at a premium of 1.5 to 3 dollars per barrel above the Dubai/Oman average, down from higher levels in previous months. The anticipated cuts follow a sharp deterioration in Middle East spot crude markets due to increased supply, with Dubai spot differentials turning into a contango of 1.64 dollars per barrel this week, marking a six-year low.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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