January OSPs for Arab Light Rise

Thursday, 14th December 2017
by Editorial Team

040928-N-7034S-001 Arabian Gulf (Sept. 28, 2004) – The guided missile cruiser USS Mobile Bay (CG 53) conducts patrols near to the Iraqi Al Basra Oil Terminal (ABOT) in the Northern Arabian Gulf. Mobile Bay is a part of USS Essex (LHD 2) Expeditionary Strike Group Three (ESG-3) currently on deployment in support of Operation Iraqi Freedom (OIF). U.S. Navy photo by Photographer’s Mate 2nd Class Samuel W. Shavers (RELEASED)

Saudi Arabia raised its prices for Asian and European purchasers of its Arab Light crude, Reuters reports.

The official selling price (OSP) of Arab Light to Asian importers rose to a premium of $1.65 per barrel over Platts’ Oman-Dubai benchmark—up $0.40 from December’s price, according to the news agency.

Arab Light prices for Europe also rose. While it is still trading at a discount of .

20 per barrel to the Brent crude index, the OSP climbed $0.60, the news agency reports.

Bucking the trend, Arab Light prices for the US fell Bucking the trend, Arab Light prices for the US fell $0..

20 to a premium of $1.00 per barrel above the Argus Sour Crude Index (ASCI), according to Reuters.

Saudi Arabia plans to export 6.9 million barrels of crude per day, a source told Reuters.