Saudi Aramco sets Arab Crude OSP for August

04/07/2024 Argaam
Aramco's oil tanks

Aramco's oil tanks 


Saudi Aramco maintained August official selling price (OSP) for its flagship Arab Light crude to North America at $4.85 per barrel, above the Argus Sour Crude Index (ASCI).

 

The Arab Light price differential for buyers in West Europe has been set at $4.00 above the ICE Brent, according to an emailed statement from Aramco.

 

The Arab Light crude grade was priced $3.90 above the ICE Brent for Europe and the Mediterranean, while the price for East Asia was set at $1.8 above the average of the Oman and Dubai benchmarks.

 

Arab Crude OSP for April ($/barrel)

Region

Super Light

Extra Light

Light

Medium

Heavy

North America

--

+ 7.10

+ 4.85

+5.45

+ 5.10

West Europe

--

+ 5.60

+ 4.00

+ 3.20

+ 0.80

East Asia

+ 2.75

+ 1.60

+ 1.80

+ 1.25

+ 0.50

Europe – The Mediterranean

--

5.60

+ 3.90

+ 3.30

+ 0.60

 

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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