Asian Refining Margins Improve as Saudi Aramco Slashes Crude Prices

ChemAnalyst / Discovery Alert · Jul 07, 2026 00:00

Saudi Aramco has cut its official selling prices (OSPs) for Asian crude to a 26-year low, reducing feedstock costs for Asian refiners and improving their refining margins. This move, influenced by increased OPEC+ production and softer Asian demand, is also depressing prices for competing Iranian and Russian crude grades.