Aramco storage tanks
Saudi Aramco announced its February official selling price (OSP) to North America for its flagship Arab Light crude at $6.35 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 at $1.50 per barrel below Brent price in February, 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 at $1.50 per barrel below Brent price, while the price of Arab Light crude grade to East Asia was determined at $1.80 above the average of the Oman and Dubai benchmarks, as shown in the following table:
|
Arab Crude OSP for February ($/barrel) |
|||||
|
Region |
Super Light |
Extra Light |
Light |
Average |
Heavy |
|
North America |
-- |
+ 8.20 |
+ 6.35 |
+ 6.15 |
+ 5.70 |
|
West Europe |
-- |
(0.40) |
(1.50) |
(2.80) |
(5.90) |
|
East Asia |
+ 4.95 |
+ 3.55 |
+ 1.80 |
+ 1.10 |
(2.25) |
|
Europe – The Mediterranean |
-- |
0.00 |
(1.50) |
(2.50) |
(6.40) |
Aramco produces five grades of crude; the Super Light, Arab Light, Arab Extra Light, Arab Medium and Arab Heavy, according to Argaam’s data.
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