Kuwait has raised the official selling prices for two crude grades it sells to Asia in May to record levels, a price document reviewed by Reuters showed on Monday.
The producer has set May Kuwait Export Crude price at $9.30 a barrel above the average of Oman/Dubai quotes, up $4.50 from the previous month.
It also raised the May Kuwait Super Light Crude OSP to $9.65 a barrel above Oman/Dubai quotes, up $3.70.
The price hike for KEC was 10 cents more than that for Saudi’s Arab Medium crude in the same month.
Source: Reuters