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OIL: Saudi Expected to Cut Arab Light OSP to Asia

OIL
Energy BulletsBulletCommodities

Saudi Aramco may cut the Arab Light OSP to Asia by $0.70/bbl in January to a premium of $1.00/bbl to the Oman-Dubai benchmark, according to a Bloomberg survey of seven trader and refiners.

  • The survey showed four respondents expect a decline between $0.7/bbl and $0.9/bbl while the others suggest a smaller cut.
  • The OSP was cut by $0.50/bbl for December to a premium of $1.70/bbl to the Oman-Dubai benchmark.
  • OSPs are typically released within the first five days of the month.
  • Market expectation has been growing that Saudi and the wider OPEC+ group will delay planned output increased early next year.
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Saudi Aramco may cut the Arab Light OSP to Asia by $0.70/bbl in January to a premium of $1.00/bbl to the Oman-Dubai benchmark, according to a Bloomberg survey of seven trader and refiners.

  • The survey showed four respondents expect a decline between $0.7/bbl and $0.9/bbl while the others suggest a smaller cut.
  • The OSP was cut by $0.50/bbl for December to a premium of $1.70/bbl to the Oman-Dubai benchmark.
  • OSPs are typically released within the first five days of the month.
  • Market expectation has been growing that Saudi and the wider OPEC+ group will delay planned output increased early next year.