Saudi Arabia raises March Arab Light crude OSP to Europe

oil and gas|04 February, 2021

The company kept its Arab Light OSP for Asian customers unchanged from the previous month

  

Image used for illustrative purpose. A derek pumps in a oil field January 15, 2003 near the Saudi Arabian border, Kuwait.

Getty Images/Joe Raedle

By Nakul Iyer, Asha Sista, Shreyansi Singh, Reuters News

Saudi Arabia’s state oil producer Aramco raised its March official selling price (OSP) for its Arab Light crude to Northwest Europe by $1.40 a barrel from the previous month, setting it at a discount of $0.50 per barrel against ICE Brent, according to a document seen by Reuters on Thursday.

The company kept its Arab Light OSP for Asian customers unchanged from the previous month at a premium of $1 a barrel versus the Oman/Dubai average.

The OSP to the United States was set at a premium of $0.85 a barrel to the Argus Sour Crude Index (ASCI) for March, $0.10 above February’s premium.

(Reporting by Nakul Iyer, Asha Sista, Shreyansi Singh in Bengaluru, Shu Zhang in Singapore Editing by David Goodman ) ((nakul.iyer@thomsonreuters.com; Within U.S. +1 646 223 8780, Outside U.S. +91 80 6749 0417; Reuters Messaging: nakul.iyer.thomsonreuters.com@reuters.net))

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source https://betterweightloss.info/saudi-arabia-raises-march-arab-light-crude-osp-to-europe/