|2020-08-06 来源： 中国石化新闻网|
郝芬 译自 油价网
Saudi Arabia May Be Forced To Cut Oil Prices Once Again
After three consecutive months of raising its crude oil prices, the world’s largest oil exporter, Saudi Arabia, is widely expected to make the first cut to its official selling prices (OSPs) since the OPEC+ group started their record production cuts to prop up the market and prices amid crashing demand. Oil refiners and traders in Asia largely expect the Saudi oil giant Aramco to cut the price of its crude oil going to Asia in September as faltering oil demand recovery is depressing refining margins and weakening the Middle East oil benchmarks against which the producers in the Gulf set their prices for Asia.
According to a Reuters survey of five Asian refiners, the industry expects Saudi Arabia to cut the price of its flagship Arab Light crude grade to Asia for September by an average of US$0.61 per barrel.
A Bloomberg survey of eight Asian traders and refiners showed similar expectations, with a median forecast of a cut of US$0.48 a barrel.
This would mean that Saudi crude Arab Light loading for Asia in September could be priced at a premium of US$0.72 a barrel over the Dubai/Oman benchmark, down from the premium of US$1.20 per barrel for the August loadings, which Saudi Aramco announced in early July in the third hike of its crude prices in three months.
While the Saudi price hikes in the past three months signaled oil demand recovering and Middle East Dubai/Oman benchmarks strengthening as supply grew tighter after the OPEC+ cuts, the expectations of lower Saudi prices going forward is a sign that demand recovery is stumbling and dragging the Middle East benchmarks and refining margins down.