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On July 6, Aramco increased official selling prices (OSPs) for its crude to Asia by $1 a barrel. Industry analysts say the increase in price could discourage demand for Saudi oil, but it could also encourage the use of crude from inventories, which would provide support for oil prices.

Saudi Arabia Raises Crude Prices

On July 6, Aramco increased official selling prices (OSPs) for its crude to Asia by $1 a barrel. Industry analysts say the increase in price could discourage demand for Saudi oil, but it could also encourage the use of crude from inventories, which would provide support for oil prices.

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