Algeria Cuts Saharan Oil Blend July Price Steeply

Algeria’s state hydrocarbons firm Sonatrach has cut the July official selling price (OSP) for its main export grade Saharan oil Blend to dated Brent minus $2.95 a barrel from minus 50 cents in June, the company said on Thursday.Algeria’s state hydrocarbons firm Sonatrach has cut the July official selling price (OSP) for its main export grade Saharan Blend to dated Brent minus $2.95 a barrel from minus 50 cents in June, the company said on Thursday.The record drop reflects falling spot differentials for the grade over the past month in a market oversupplied with sweet grades.