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Saudi Arabia may hike its May crude official selling prices to Asia to record highs as Middle East oil became the world’s most expensive after the US-Israeli war with Iran caused massive supply disruptions, according to a Reuters survey of industry sources.
The May official selling price (OSP) for flagship Arab Light crude, the country’s most widely sold grade, may rise to premiums of $22.50 to $40.50 a barrel above the average of Dubai and Oman quotes, six sources said in the survey, $20 to $38 a barrel higher than the OSP for April.
