Saudi Aramco's oil tanks
Saudi Aramco maintained in September the official selling price (OSP) for its flagship Arab Light crude to North America at $4.10 per barrel, above the Argus Sour Crude Index (ASCI).
The Arab Light price differential for buyers in West Europe was set at $1.25 above the ICE Brent, according to an emailed statement from Aramco.
The Arab Light crude grade was priced $1.15 above the ICE Brent for Europe and the Mediterranean, while the price for East Asia was set at $2 above the average of the Oman and Dubai benchmarks.
|
Arab Crude OSP for September 2024 ($/barrel) |
|||||
|
Region |
Super Light |
Extra Light |
Light |
Medium |
Heavy |
|
North America |
-- |
+6.35 |
+4.10 |
+5.70 |
+4.35 |
|
West Europe |
-- |
+2.85 |
+1.25 |
+0.45 |
(1.95) |
|
East Asia |
+2.95 |
+1.70 |
+2.00 |
+1.25 |
+0.50 |
|
Europe (Mediterranean) |
-- |
+ 2.85 |
+1.15 |
+0.55 |
(2.15) |
Aramco produces five grades of crude: Super Light, Arab Light, Arab Extra Light, Arab Medium, and Arab Heavy, according to Argaam data.
The Arab Super light crude is characterized by a density of more than 40, while the Arab Extra light is characterized by a density ranging between 36 and 40. The Arab Light has a density between 32 and 36, the Arab Medium crude has a density between 29 and 32 degrees, and the Arab Heavy has a density of less than 29 degrees.
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