Saudi Arabia may increase the price of Asian oil markets for two consecutive months, with prices in September possibly hitting a five-month high.

According to sources in the oil refining industry, Saudi Arabia, the world's largest oil exporter, may raise its official selling price of crude oil to Asian buyers for the second consecutive month. It is expected that the price of Arab Light crude oil in September will reach a near five-month high. Five industry sources predict that the official selling price of Saudi Arabia's flagship product, Arab Light crude oil, may increase by 90 cents per barrel in September compared to August, reaching a range of $3.10 to $3.25 per barrel, the highest level since May this year. For other grades of crude oil, it is expected that the selling price of Arab Extra Light, Medium, and Heavy crude oil in September will increase by 80 to 95 cents per barrel compared to August.