July 5 (Bloomberg) -- Saudi Aramco, the world’s largest state-owned oil company, lowered its official selling prices for exports of all crude oil grades to the U.S. in August.

Saudi Arabia decreased the price of its heavy crude to all destinations, the company said in an e-mailed statement today. Aramco cut heavy crude prices to the U.S. the most, by 75 cents a barrel to $5.50 below the cost of West Texas Intermediate crude.

The price of extra light crude fell against WTI to the U.S, while Aramco increased extra light prices to Northwestern Europe, the Mediterranean and the Far East.

Saudi Arabia, OPEC’s largest member and de-facto leader, was the second-biggest crude exporter to the U.S. last year after Canada, according to the Energy Information Administration. The country has led production cuts announced by the Organization of Petroleum Exporting Countries in 2008 in an attempt to support crude prices.

To contact the reporters on this story: Ayesha Daya in Dubai on adaya1@bloomberg.net;

Last Updated: July 5, 2009 10:48 EDT