Saudi Aramco reduces crude prices for the second consecutive month

Saudi Arabia has sharply reduced its July official selling prices (OSPs) for Asian customers, reflecting weaker demand from major importers, particularly China. The price cut affects Arab Light crude and other grades sold across Asia.

Energy analysts say Chinese refiners have reduced purchases because of lower refining margins and weaker industrial demand. Despite the reduction, Saudi crude remains priced above pre-conflict levels due to ongoing regional supply concerns. The decision highlights Saudi Arabia’s strategy of protecting market share while maintaining export competitiveness.

Source : Reuters.