Aramco storage tanks
Saudi Aramco announced its June official selling price (OSP) to North America for its flagship Arab Light crude at $6.25 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 $2.10 per barrel in June, 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 $1.90 per barrel, while the price of Arab Light crude grade to East Asia was determined at $2.55 above the average of the Oman and Dubai benchmarks, as shown in the following table:
|
Arab Crude OSP for June ($/barrel) |
|||||
|
Region |
Super Light |
Extra Light |
Light |
Medium |
Heavy |
|
North America |
-- |
+ 8.40 |
+ 6.25 |
+ 6.95 |
+ 6.50 |
|
West Europe |
-- |
+ 2.70 |
+ 2.10 |
+ 1.60 |
(0.80) |
|
East Asia |
+ 4.30 |
+ 2.10 |
+ 2.55 |
+ 2.00 |
+ 0.35 |
|
Europe – The Mediterranean |
-- |
+ 3.20 |
+ 1.90 |
+ 1.60 |
(1.30) |
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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