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Saudis signal satisfaction with oil prices, volumes

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LAUNCESTON, Australia (Reuters) — Saudi Arabia’s decision to increase the price of oil for July modestly for its major customers in Asia was a business-as-usual outcome, rather than any signal that the kingdom intends to produce and sell more crude.

Saudi Aramco, the world’s biggest crude exporter, raised its official selling prices (OSPs) for four of its five grades for July cargoes to Asia, including a 20 cent a barrel increase for the benchmark Arab Light.

This took the premium for Arab Light to $2.10 a barrel over........

© The Japan News