Daily Energy Report
Aramco raises Arab Light OSP to Asia, OPEC+ supplies limited, Bloomberg wrong again, US fuel oil imports low, Drillers invest in South America, New Canada pipeline, BRICS want climate money, and more.
July 07, 2025
Chart of the Day
Arab News: Saudi Aramco Raises August Arab Light Crude OSP for Asia
Summary
Saudi Aramco raised its August official selling price for Arab Light crude to Asia by $1, setting it at $2.20 above the Oman/Dubai average—the highest since April as shown in the table below. Prices for other grades also increased, with Arab Extra Light up $1.30 and Arab Heavy up $0.90. The hikes follow OPEC+ plans to boost output by 548 kb/d in August. Aramco’s pricing influences about 9 mb/d of exports and sets a benchmark for regional producers. In North America, Arab Light was priced $3.90 above the Argus Sour Crude Index.
Figure (1) shows trends in Aramco’s OSP of Arab light to Asia since January 2021. The last three months were low by historical standards.
