Saudi Aramco's storage terminals
Saudi Aramco announced its August official selling price (OSP) to North America for its flagship Arab Light crude at $5.65 per barrel above the Argus Sour Crude Index (ASCI).
For buyers in West Europe, the Arab Light price differential versus the ICE Brent was set above $5.30 per barrel in August, Saudi Aramco said in a statement obtained by Argaam.
Moreover, in Europe-The Mediterranean, the Arab Light price differential versus the ICE Brent was set above $5.10 per barrel, while the price of Arab Light crude grade to East Asia was determined at $9.30 above the average of the Oman and Dubai benchmarks, as shown in the following table:
|
Saudi Aramco Sets Official Selling Price of Arab Crude for August |
|||||
|
Region |
Super Light |
Extra Light |
Light |
Average |
Heavy |
|
North America |
-- |
+ 7.00 |
+ 5.65 |
+ 4.95 |
+ 4.50 |
|
West Europe |
-- |
+ 8.00 |
+ 5.30 |
+ 1.80 |
(2.60) |
|
East Asia |
+ 11.35 |
+ 10.65 |
+ 9.30 |
+ 7.15 |
+ 5.30 |
|
Europe – The Mediterranean |
-- |
+ 8.00 |
+ 5.10 |
+ 1.80 |
(2.80) |
Aramco produces five grades of crude: Super Light, Arab Light, Arab Extra Light, Arab Medium and Arab Heavy, according to Argaam’s data.
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