Riyadh – Mubasher: The Saudi Arabian Oil Co, known globally as Saudi Aramco, has raised crude oil prices to its customers in Asia and Europe for June, whereas it trimmed prices for its importers in the US, Reuters reported.

The state-owned crude producer increased June price of Arab Light grade to Asia by $0.70 per barrel (pb), versus a premium of $2.10 pb to the Oman/Dubai average in May.

In the same vein, the largest global oil exporter hiked the official selling price (OSP) of its Arab Light for Northwest Europe by 80 cents pb in June contracts, compared to May.

Aramco’s Arab Light OSP to the US was set at a premium of $3.05 pb to the Argus Sour Crude Index (ASCI) for June, down $0.10 pb from May.

“The kingdom’s oil output may edge up in June, but the extra crude may be used for domestic power generation rather than providing the boost to exports that Washington has sought,” informed sources noted to Reuters.