Top oil exporter Saudi Arabia has lowered the August official selling price (OSP) for its Arab Heavy crude oil grade to Asia, traders said on Tuesday.

Saudi Arabia cut its Arab Heavy crude to Asian customers by 5 cents from July to the Oman/Dubai average minus $3.00 a barrel, traders said.

The cut was in line with expectations in a Reuters poll.

State oil company Saudi Aramco also raised the August price of Arab Light to Asia by 5 cents to the Oman/Dubai average minus 15 cents a barrel, the sources said.

The price to northwest Europe was increased by 75 cents to BWAVE minus $1.40 a barrel. The price to the United States was left unchanged at Argus Sour Crude Index minus 40 cents a barrel, the sources said.

Saudi term crude supplies to the United States are priced as a differential to the Argus Sour Crude Index (ASCI).-Reuters