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The Economic Times

Global Business / The Economic Times

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Saudi Arabia makes August crude oil cheaper for Asian buyers

Saudi Arabia has significantly slashed its August Arab Light crude oil price for Asia, setting it at $1.50 a barrel below the Oman/Dubai average, the lowest since June 2020. This substantial reduction, far exceeding market forecasts, follows a sharp decline in spot crude markets amid increased Middle Eastern supplies. The previous month's price stood at a $9.50 premium.

6 Jul 2026 6:44 pm