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Saudi Arabia raises January OSPs for Arab light crude to Asia

Tuesday, 03 December 2019 | 12:00

Saudi Arabia has raised its January official selling price (OSP) for its Arab Light crude oil for Asian customers by $0.30 a barrel versus December to a premium of $3.70 per barrel to the Oman/Dubai average, state oil company Aramco said on Monday.

Saudi Arabia reduced its January Arab Light OSP for customers in Northwest Europe, setting it at a discount of $1.85 a barrel to ICE Brent, down $1.80 a barrel from December.

The OSP for Arab Light to the United States was unchanged in January versus December at a premium of $3.35 a barrel to the Argus Sour Crude Index.

The tables below show the full FOB (free on board) prices in U.S. dollars. Saudi term crude supplies to the United States are priced as a differential to the Argus Sour Crude Index (ASCI). UNITED STATES

JAN DEC CHANGE EXTRA LIGHT +5.10 +5.00 +0.10 LIGHT +3.35 +3.35 0.00 MEDIUM +1.55 +1.55 0.00 HEAVY +0.80 +0.80 0.00 Prices at Ras Tanura destined for Northwest Europe are set against ICE Brent: NW EUROPE

JAN DEC CHANGE EXTRA LIGHT +2.10 +3.30 -1.20 LIGHT -1.85 -0.05 -1.80 MEDIUM -5.50 -3.40 -2.10 HEAVY -8.70 -6.20 -2.50 Saudi term crude supplies to Asia are priced as a differential to the Oman/Dubai average: ASIA

JAN DEC CHANGE SUPER LIGHT +8.45 +6.75 +1.70 EXTRA LIGHT +5.80 +5.10 +0.70 LIGHT +3.70 +3.40 +0.30 MEDIUM +2.05 +2.15 -0.10 HEAVY -0.15 +0.45 -0.60 Prices at Ras Tanura for Saudi oil destined for the Mediterranean are set against ICE Brent: MEDITERRANEAN

JAN DEC CHANGE EXTRA LIGHT +3.90 +3.45 +0.45 LIGHT -0.40 0.00 -0.40 MEDIUM -3.40 -2.90 -0.50 HEAVY -6.10 -5.25 -0.85
Source: Reuters (Reporting by Dahlia Nehme. Editing by Jane Merriman and Mark Potter)

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