Saudi Arabia makes August crude oil cheaper for Asian buyers
- Posted on July 6, 2026
- By Business News Today
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- 1 min read
Saudi Arabia makes August crude oil cheaper for Asian buyers
Saudi Arabia has significantly slashed its August Arab Light crude oil price for Asia, setting it at $1.50 a barrel below the Oman/Dubai average, the lowest since June 2020. This substantial reduction, far exceeding market forecasts, follows a sharp decline in spot crude markets amid increased Middle Eastern supplies. The previous month's price stood at a $9.50 premium.
