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Saudi Arabia Cuts Arab Light January OSP to Asia by 0.50ct/bbl

OIL

Saudi Arabia cut its flagship Arab Light OSP for January to Asian customers by 0.50ct/bbl to 3.50$/bbl over the Oman/Dubai average, according to a price list seen by Bloomberg, marking the first cut in seven months.

  • Surveys from Bloomberg and Reuters expected a larger cut in OSPs to Asia.
  • The kingdom also lowered all of its other selling prices.
  • The Arab Super Light, Arab Extra light and Arab Light OSPs to Asia for January were all reduced by 0.5ct/bbl. Arab Medium to Asia was lowered by 0.6ct/bbl to 2.75$/bbl above the Oman/Dubai Average and Arab Heavy was cut by 0.30ct/bbl to 1.70$/bbl.
  • January OSPs for all grades to the US were lowered by 0.30ct/bbl.
  • Selling prices to NW Europe and the Mediterranean were cut by 2$/bbl.
Energy BulletsCommodities
Energy BulletsCommodities

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