Top oil exporter Saudi Arabia could raise September crude prices for customers in Asia for a third month even though refining margins have declined as high fuel prices and persistent COVID-19 restrictions in China hit demand. State oil giant Saudi Aramco could hike the official selling price (OSP) for its flagship Arab Light crude by between 70 cents and $1 a barrel from the previous month, according to six refining sources surveyed by Reuters. The increase would shoot the September price to a record level, surpassing the previous record of $9.35 a barrel above the Oman/Dubai average set for May. Saudi typically sets the prices based on the monthly change in benchmark Dubai’s market structure, which reflects the first- and third-month price spread. In […]