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Saudi Arabia May Raise Arab Light October OSP to Asia by 30c/bbl

OIL

Saudi Aramco may increase the official selling price of its Arab Light crude by 30c/bbl for October sales to Asia according to a Bloomberg survey of five refiners and traders.

  • The Arab Light OSP to Asia is forecast at a $3.80/bbl premium to Oman-Dubai average for October, compared with a premium of $3.50/bbl for September.
  • If confirmed, this would be the highest OSP since December last year.
  • For September, Saudi Arabia raised the Arab Light OSP by 30c/bbl, below expectations of a 50c/bbl hike from the previous survey. The kingdom raised nearly all oil prices for the next month as the country extended its output cuts until the end of September.
  • Saudi OSPs are usually released in the first five days of the month.
Energy BulletsCommodities
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