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OIL: Saudi to Cut Arab Light OSP by $0.85/bbl in Oct: Bloomberg Survey

OIL

Saudi Aramco may cut the Arab Light OSP to Asia by $0.85/bbl in October, according to a Bloomberg survey.

  • Saudi OSPs and allocations expected next week will be closely watched for any indications as to whether OPEC+ will stick to the current plan to return 543kb/d of supply during Q4.
  • The survey showed a range for cut of between $0.5/bbl and $1.0/bbl.
  • The OSP was raised for September by $0.2/bbl to a premium of $2.0/bbl to the Oman-Dubai benchmark.
  • OSPs are typically released within the first five days of the month.

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