# State oil giant Saudi Aramco lowered the official selling price for its flagship Arab Light crude for June by $4 a barrel.

*business · news · 2026-05-06 · MarketScreener*

## Key points

- Saudi Aramco cut Arab Light crude's June official selling price for Asia by $4 to $15.5 premium.
- June's Arab Light premium is still the second-highest on record despite the price cut.
- Iran's shutdown of the Strait of Hormuz caused the largest oil-supply shock in history.
- OPEC+ will increase production by 188,000 barrels a day in June, continuing monthly hikes.
- Arab Light is currently loaded from Yanbu in the Red Sea, raising buyer costs over stated prices.

**Companies:** Saudi Aramco
**Countries:** Saudi Arabia, Iran, United Arab Emirates

[Read the full story on MarketScreener](https://www.marketscreener.com/news/saudi-aramco-cuts-oil-price-for-june-from-record-high-in-may-ce7f58ddd18af425)

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