Saudi Arabia may hike its official selling price for crude oil sent to Asia for the second month in a row to take advantage of strong premiums for Middle Eastern oil grades and record-high distillate margins, Reuters has reported. The price for the Kingdom's flagship grade, Arab Light, could cost $2.40 per barrel more in August, according to sources from the refining industry that Reuters polled this week. "Refining margins are very solid and we expect demand to stay robust in the near term," the sources said. Saudi Arabia raised its official selling…
