Saudi Aramco Cuts July Arab Light OSP by $6, Largest Drop Since 2000
Updated
Updated · Crypto Briefing · Jul 6
Saudi Aramco Cuts July Arab Light OSP by $6, Largest Drop Since 2000
3 articles · Updated · Crypto Briefing · Jul 6
Summary
$6 a barrel was shaved off Saudi Aramco’s July 2026 official selling price for Arab Light, taking the premium to $9.50 over the Dubai/Oman benchmark.
Softened Asian demand and shrinking spot premiums drove the cut, signaling weaker regional buying even as supply disruptions persist around the Strait of Hormuz.
The move follows a $4 reduction in June, showing Aramco has been lowering prices in consecutive months to stay competitive in a softer market.
Broader market expectations have also cooled: pricing cited in the report implies only a 2.5% chance crude reaches a new all-time high by Sept. 30.