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Saudi Arabia to Raise November OSP to Asia: Bloomberg Survey

OIL

Saudi Aramco may raise its November OSP for Arab Light crude to Asia by 20c/bbl on the month according to the median estimate in a Bloomberg survey of five refiners, traders.

  • The November Arab Light OSP differential is estimated at a $3.80/bbl premium to Oman-Dubai compared with $3.60/bbl in October.
  • If the increase is delivered, this would raise the overall price to the most since December, following a rise in the OSP in seven of the past eight months.
  • Two respondents forecast the OSP to stay unchanged, one expected a gain of 20c, and two others each estimated hike of 40c and 45c.
  • Last month, Saudi Aramco hiked the Arab Light crude OSP to Asia by 10c, below the 30c expected in the last Bloomberg survey.
Energy BulletsCommodities
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