Saudi Arabia is considering raising its official selling prices (OSPs) for crude oil to Asian markets in September, signaling confidence in regional demand recovery and tightening global supplies.
Industry sources suggest the planned hike could range between 30 to 50 cents per barrel, supported by robust refining margins across Asia and steady demand from major importers like China and India. The move would follow recent supply cuts by OPEC+ members, including Saudi Arabia itself, which have helped stabilize oil markets amid global economic uncertainty.
Higher prices would also reflect growing competition among Asian refiners for premium Middle Eastern crude, particularly as Russian oil continues to face sanctions and discounted sales elsewhere. 
Analysts note that any price increase by Saudi Arabia, the world’s top oil exporter, is likely to set the tone for other Middle Eastern producers, potentially leading to tighter pricing across the region.
If confirmed, the adjustment would mark the second consecutive monthly hike for Asian buyers, underscoring Riyadh’s bullish outlook on oil demand heading into the latter part of 2025.
