Saudi Aramco has reduced its oil prices for all grades shipped to Asia for the second consecutive month, signaling perceived ongoing demand weakness in its primary market.

This decision comes despite a recent increase in global oil prices, attributed to reduced exports from Aramco, with June's shipments falling to the lowest in ten months. 

For August shipments, Aramco will lower the price of its Arab Light crude by 60 cents to $1.80 a barrel above the regional benchmark.

This adjustment is less than the 90 cents reduction anticipated by traders and refiners surveyed.