Saudi Aramco lifts Sept Arab Light OSP to Asia to $3.20/bbl

Saudi Aramco lifts Sept Arab Light OSP to Asia to $3.20/bbl

Saudi Aramco, the world's largest oil producer, has announced a significant increase in its September Arab Light OSP (Official Selling Price) for Asia, setting it at $3.20 per barrel. This move comes amidst a backdrop of fluctuating oil prices and geopolitical uncertainties [1].

The energy giant's decision to raise the OSP is a strategic response to the current market conditions. The increase is expected to boost Aramco's revenue, which has been under pressure due to lower crude oil prices and weaker refined product prices in the recent quarters [1]. Despite the challenges, Aramco's CEO Amin H. Nasser has maintained a positive outlook, forecasting higher oil demand in the second half of 2025 [1].

The latest OSP adjustment follows a period of market volatility, with Brent crude futures and U.S. West Texas Intermediate (WTI) experiencing significant fluctuations [2]. The uncertainty has been exacerbated by Washington's rollout of new tariffs and political tensions, which have impacted global oil demand and pricing [2].

While Aramco's move to increase the OSP is a strategic decision, it also reflects the company's long-term commitment to hydrocarbons as a vital part of global energy and chemicals markets [1]. The company's capital spending has remained robust, with a slight increase in the second quarter, indicating its readiness to meet customer demand over the short and long term [3].

In contrast, BP reported a strong Q2 performance, posting an underlying net profit of $2.35 billion, primarily driven by upstream operations [2]. The company's pivot back to fossil fuels has been a key factor in its recent success, with a focus on oil and gas projects and a reduction in renewable spending [2].

Despite the differences in their quarterly performances, both Aramco and BP are navigating a complex and volatile energy market. Aramco's increase in the OSP is a clear signal that the company is adapting to current market conditions and positioning itself for future growth.

References:
[1] https://dmarketforces.com/saudi-aramcos-profit-falls-by-22-on-lower-oil-prices/
[2] https://www.mitrade.com/insights/news/live-news/article-3-1012812-20250805
[3] https://profit.pakistantoday.com.pk/2025/08/05/saudi-aramco-reports-lower-q2-revenues-forecasts-higher-oil-demand-in-second-half-of-2025/