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Saudi Arabia Reduce Arab Light OSP to Europe and Asia


Brent recovers some ground after Saudi Aramco announced their official selling prices for October crude.

    • Brent NOV 22 down -1.7% at 94.09$/bbl
    • WTI OCT 22 up 1.1% at 87.85$/bbl
    • WTI-Brent up 0.09$/bbl at -6.58$/bbl
    • Brent NOV 22-DEC 22 down -0.24$/bbl at 1.1$/bbl
    • Brent DEC 22-DEC 23 down -0.98$/bbl at 9.79$/bbl
  • Saudi Arabia has reduced the crude export prices for Europe and Asia with US prices left either unchanged or higher.
  • The OSP of Arab Light crude to Asia has been reduced from a record +9.8$ differential over the Oman-Dubai average to a +5.85$/bbl differential. A survey by Bloomberg last week suggested the price could be as low as +5.42$/bbl.
  • The OSP of Arab Light to Europe is +2.7$/bbl to Brent and to US is +$6.15 to Argus Sour Crude Index

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