| Saudi Arabia's decision to hike crude oil prices to Asian customers by the most in more than a year is both understandable and curious. Saudi Aramco, the kingdom's state oil company, lifted its official selling price (OSP) for June-loading cargoes for the main Arab Light grade to a premium of 25 cents a barrel to the Oman-Dubai benchmark, up $1.10 from a discount of 85 cents for May deliveries.
This was the biggest one-month jump since April 2015 and took the OSP to its highest since September last year. The increase was more than the market expected, but it is understandable in the context of how the Saudis calculate their OSPs...............................................Full Article: Source
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