Saudi Aramco hiked the official selling prices (OSP) for August-loading Arab Light to Asia by 20 cents a barrel from July to $3.20 a barrel over Oman/Dubai quotes.
For other regions, the top oil exporter increased its August Arab Light OSP to northwest Europe by 80 cents to $3.80 a barrel above ICE Brent.
The OSP to the United States was also raised by 10 cents in August from the prior month at $7.25 versus ASCI.
The price increase was largely anticipated by the market, although some Asian refiners were expecting a price cut of about 50 cents amidst poor refining margins and competition with crude from other regions.
Earlier Monday, Saudi Arabia announced it would draw out its 1 million barrels-per-day voluntary cut to oil production to August and left the door open to extend the trim further.