Saudi Aramco sets Arab Crude OSP for February

07/01/2024 Argaam


Saudi Aramco set the February official selling price (OSP) for its flagship Arab Light crude in North America at $5.15 per barrel, above the Argus Sour Crude Index (ASCI).

 

The Arab Light price differential for buyers in West Europe has been set at $0.90 above the ICE Brent, according to an emailed statement from Aramco.

 

The Arab Light crude grade was priced $0.40 above the ICE Brent for Europe and the Mediterranean, while the price for East Asia was set at $1.50 above the average of the Oman and Dubai benchmarks.

 

Arab Crude OSP for February ($/barrel) 

Region 

Super Light 

Extra Light 

Light 

Medium 

Heavy 

North America   

--

+ 7.30

+ 5.15

+ 5.85

+ 5.40

West Europe 

--

+ 2.70

+ 0.90

+ 0.20

(2.50)

East Asia 

+ 2.95

+ 1.55

+ 1.50

+ 0.75

(0.30)

Europe – The Mediterranean 

--

+ 2.30

+ 0.40

(0.10)

(3.10)

 

Aramco produces five grades of crude: Super Light, Arab Light, Arab Extra Light, Arab Medium, and Arab Heavy, according to Argaam data.

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