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Saudi Aramco Raises OSPs to Asia for Fifth Straight Month

OIL

Saudi has hiked its official selling prices to Asia for a fifth straight month – something both a Bloomberg and Reuters survey had reported earlier in the week.

  • Aramco set the OSP of Arab Light crude at a premium of $4 a barrel for November sales to Asia – the highest since December and a monthly jump of 40 cents.
  • Its OSPs for all grades to northwest Europe and the Mediterranean rose too while prices for North America were rolled over.
  • Aramco raised the OSP for Arab light to Europe by USD 1.5/bbl m/m to USD 7.2/bbl for November.
  • Saudi voluntary production cuts, confirmed again this week until the end of the year, have supported prices ahead of the recent sell off on weak economic backdrop concerns.








source: Bloomberg

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