In this episode of The Officials, we welcome a new voice to the show—Spyridon Kokas, the latest addition to the Officials team. Together, Ed and Spyridon dive deep into the imminent release of the Saudi Official Selling Prices (OSPs), expected tomorrow, and examine what recent changes in the Dubai physical market structure might mean for the August figures.

They explore:
• The rise in Dubai physical premiums due to geopolitical tensions, especially the Israel-Iran conflict.
• Why June trading is critical to forecasting the August OSP.
• The Saudi strategy of discretionary OSP adjustments and what that implies for this month’s pricing.
• The broader OPEC+ narrative of market stability, including the ongoing unwind of voluntary production cuts.
• Summer burn factors and domestic demand dynamics in Saudi Arabia.
• Export behaviour amid Strait of Hormuz security concerns and their implications for crude pricing signals.

Expect sharp insights, data-backed expectations (hint: a 65–70 cent hike is on the table), and a continued theme of pricing discipline from Riyadh.

Don't miss our reports and real-time commentary on Twitter following the release.

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OSPs: Most Important Oil Pricing Day of the Month | The Officials

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OSPs: Most Important Oil Pricing Day of the Month | The Officials