Saudi Arabia is likely to reduce its official oil selling prices (OSP) for Asia in June, according to a survey of industry insiders. This potential price adjustment comes after spot premiums have declined and demand has cooled following weeks of supply disruptions due to the U.S.-Israel conflict with Iran. According to Jin10, four sources indicated that the flagship Arab Light crude's June OSP might be lowered to a premium of $7.50 to $14.50 per barrel over the average prices of Dubai and Oman crude, which is $5 to $12 less than the May OSP. The wide forecast range reflects ongoing uncertainty among Asian buyers. The anticipated price cut follows a significant weakening in the spot market since late March. Data shows that the Dubai spot price premium over swap prices fell to $9.17 on Monday, a sharp drop from the historical high of over $60 in March when supply was disrupted. Since April, the average Dubai crude premium has been $15.22 per barrel, less than half of March's average of $38.30, with Oman spot premiums showing similar trends. Respondents also expect other crude grades' June OSP to be reduced by $5 to $12. Saudi Arabia typically announces its oil OSP around the fifth day of each month.