"Saudi Arabia Raises September Oil Prices for Asian Markets"

Saudi Arabia has increased the prices for most of its crude oil to Asia in September, following the extension of its voluntary production cut. The official selling price for September Arab light crude to Asia has been raised by 30 cents a barrel to $3.50 a barrel over the Oman/Dubai average. The prices to Europe have also been hiked, while the prices to North America remain unchanged. The voluntary oil output cut of one million barrels per day will be extended to include September, with the possibility of further extensions or deepening.