Saudi Arabia may raise July oil prices to Asia – survey – ZAWYA

Saudi Arabia may raise July oil prices to Asia – survey – ZAWYA

Saudi Arabia may raise July oil prices to Asia - survey. Saudi Arabia is expected to increase the July OSP for Arab Light crude by $3.80 a barrel on average, a survey of five refinery sources showed.. Forecasts ranged from an increase of $2-$3 a barrel to as much as $5 a barrel, as refiners' margins weakened in May while a stronger DME Oman crude price, one of two underlying benchmarks for Saudi crude in Asia, has increased refiners' feedstock costs, they said.. "Refining margins actually worsened" by close to $1 a barrel in May, one of the respondents said.. The DME Oman crude price was on average about $3 a barrel more expensive than cash Dubai and Oman prices set by S&P Global Platts last month, according to Reuters calculations, pushing up costs for Asian buyers of Saudi Arabian and Kuwaiti oil..