by Saudi Aramco sets official selling price of Arab crude for April
Saudi Aramco’s tanks
Saudi Aramco announced its April official selling price (OSP) to North America for its flagship Arab Light crude at $6.65 per barrel above the Argus Sour Crude Index (ASCI).
For buyers in Northwest Europe and the Europe-Mediterranean, the Arab Light price differential was set at $0.80 above the ICE Brent, Aramco said in an emailed statement to Argaam.
The price of Arab Light crude grade to East Asia was determined at $2.50 above the average of the Oman and Dubai benchmarks, as shown in the following table:
|
Arab Crude OSP for April ($/barrel) |
|||||
|
Region |
Super Light |
Extra Light |
Light |
Medium |
Heavy |
|
North America |
— |
+8.20 |
+6.65 |
+6.45 |
+6.00 |
|
West Europe |
— |
+1.60 |
+1.00 |
+0.50 |
(2.60) |
|
East Asia |
+4.95 |
+2.70 |
+2.50 |
+2.50 |
+0.75 |
|
Europe – The Mediterranean |
— |
+2.10 |
+0.80 |
+0.50 |
(3.10) |
Aramco produces five grades of crude: Super Light, Arab Light, Arab Extra Light, Arab Medium and Arab Heavy, according to Argaam’s data.