REUTERS SURVEY — Saudi Arabia may raise October official selling prices (OSP) to
Asia by $2–6/bbl after Middle East spot crude tightened and demand strengthened,
five refinery sources said. Arab Light is expected to be set at parity with the
Oman/Dubai average or up to $4/bbl over that benchmark, implying October OSPs
$2–6/bbl higher than September. September OSPs were at a discount, the weakest
in six years. Middle East spot strength: Dubai spot premium to swaps reached
$13.58/bbl on Aug. 21 (highest since late May); the month-to-date average
premium is about $9.71/bbl versus $1.26 in July. Oman spot differentials have
widened similarly.
