Saudi Aramco Cuts September Light Crude Oil Premium to Asia
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Saudi Arabian Oil Co., the world’s largest crude exporter, cut the premium used in determining official selling prices for its Light, Medium and Heavy grades to customers in Asia for September shipments while raising the premium for Light crude to customers in the U.S.
Saudi Aramco, as the producer is known, raised the differentials used to determine the prices for all grades for sale to Northwest Europe and the Mediterranean region in September, the company said in an e-mailed statement today.