Saudi Arabia will ship lower-than-nominated crude oil volumes to some of its Chinese buyers next month. Many buyers in Asia have asked for more Saudi crude oil for July. This past weekend, Saudi Arabia raised its official selling prices (OSPs) to Asia and Europe for July. Saudi Arabia will ship lower-than-nominated crude oil volumes to some of its Chinese buyers in July, but will provide most other Asian customers with all the crude they have requested, Bloomberg reported on Friday, citing refinery officials in Asia. Many buyers in Asia have asked for more Saudi crude oil for July as barrels from the Middle East are cheaper than those from the North Sea and the U.S. because of a drop in the Dubai/Oman benchmark compared Brent and WTI benchmarks. The oil going to Asia from the Middle East is priced off the Dubai/Oman benchmark. The Saudis will not fully meet […]