Refinitiv survey shows Saudi Arabia is likely to cut August official selling
prices (OSPs) to Asia to four-month lows as Middle East spot crude falls sharply
amid rising supply. Arab Light OSP for August is forecast at $1.5–3/bbl over the
Dubai/Ahman average, down $6.5–8/bbl from July; other Saudi grades are expected
to see comparable reductions. Dubai spot spread this week swung to a $1.64/bbl
discount, the weakest in six years.
