LAUNCESTON, Australia, June 6 (Reuters) - Having been surprised by Saudi Arabia announcing a unilateral 1 million barrels per day cut in oil output for July, oil refiners got more bad news when Saudi Aramco (2222.SE) informed Asian customers that prices for July-loading cargoes were going up.
Prior to the decision to increase the official selling prices (OSPs) for crude to be shipped in July, refiners in the top-importing region had been expecting prices to be lowered.
Based on the materials: www.reuters.com