Saudi Arabia offered additional cargoes of its Arab Extra Light crude to at least two buyers in Asia for August after supplying full contractual volumes to customers in the region, Bloomberg reported, citing people with knowledge of the matter.
Earlier this month, Saudi Aramco, the world’s largest oil exporter, had cut the official selling price for its Arab Light crude oil grade for Asian customers by $0.20 for August to a premium of $1.90 a barrel to the average of Oman and Dubai quotes.
Meanwhile, Aramco had also adjusted its Asia crude oil pricing marker in order to increase the overall reliability of its crude oil pricing.
Separately, oil prices fell on Monday as concerns about supply disruptions eased with Libyan ports resuming export activities.
Brent was trading down 0.58 percent at $74.89 per barrel (bbl) on early Monday morning, while US West Texas Intermediate (WTI) crude futures fell 0.59 percent to $70.59/bbl.
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