Saudi Aramco on Friday (November 6) cut the December official selling price (OSP) for Arab Light crude to Asian customers by $2 per barrel from November, widening the discount to the Oman/Dubai average to $6.50 per barrel—the lowest since May 2020 during the pandemic. According to the pricing document, Aramco also cut December prices for all grades to Northwest Europe and the Mediterranean by $1 per barrel, while keeping US prices unchanged. A Reuters survey last week showed market participants had expected Aramco to keep Asian prices unchanged or cut them by up to $2 per barrel to attract buyers.
Saudi Aramco December OSP Structure: Arab Light Discount of $6.50, All Grades to Asia Cut by $2
Saudi Aramco on Friday (November 6) cut the December official selling price (OSP) for Arab Light crude to Asian customers by $2 per barrel from November, widening the discount to the Oman/Dubai average to $6.50 per barrel—the lowest since May 2020 during the pandemic. According to the pricing document, Aramco also cut December prices for all grades to Northwest Europe and the Mediterranean by $1 per barrel, while keeping US prices unchanged. A Reuters survey last week showed market participants had expected Aramco to keep Asian prices unchanged or cut them by up to $2 per barrel to attract buyers
