Saudi Arabia sets June Arab Light Crude oil OSP to Asia at plus USD 15.50/bbl (prev. 19.50/bbl in May) vs Oman/Dubai average, via Aramco
- Sets June Arab light crude oil OSP to NW Europe at plus USD 25.85/bbl (prev. plus USD 27.85) to ICE Brent Settlement
- Sets June Arab light crude oil OSP to US at plus USD 14.60/bbl (prev. plus USD 14.60) vs ASCI
Context
Saudi Arabia's adjustment of its June Arab Light Crude oil Official Selling Prices (OSPs) signals a tightening in price competitiveness in Asia and Europe, reducing the premium compared to the previous month. The notable decrease for Asia suggests a potential recalibration of demand and may influence global oil prices, particularly for Brent and WTI benchmarks, affecting inflation and currency dynamics as well.
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