Petronas cuts April Malaysian crude OSP to $67.20/bbl

Petronas sets the benchmark based on the spot differentials to dated Brent for the four grades

  
The logo of a Petronas fuel station is seen with the Petronas Twin Towers in the background in Kuala Lumpur, Malaysia. Picture taken February 10, 2016.

The logo of a Petronas fuel station is seen with the Petronas Twin Towers in the background in Kuala Lumpur, Malaysia. Picture taken February 10, 2016.

REUTERS/Olivia Harris

SINGAPORE - The official selling price (OSP) of a basket of April-loading Malaysian crude oil grades has been set at $67.20 a barrel, according to a pricing document seen by Reuters on Monday.

The April price for flagship Labuan crude fell by 43 cents from $67.63 a barrel in March.

Petronas sets the benchmark based on the spot differentials to dated Brent for the four grades - Labuan, Miri, Kikeh and Kimanis.

The Malaysian crude benchmark mechanism was launched in January 2014 and updated to include the Kimanis crude grade from January 2017.

Below are the OSPs for the Malaysian grades:

PETRONAS TERM PRICES (INCLUDES "P" ADJUSTMENT)

APRIL MARCH LABUAN 67.20 67.63 MIRI 67.20 67.63 KIKEH 67.20 67.63 KIMANIS 67.20 67.63 TAPIS 66.13 66.59 DULANG 68.13 68.31 BINTULU 66.60 67.19

(Reporting By Shu Zhang; Editing by Subhranshu Sahu) ((shu.zhang@thomsonreuters.com; +65-6870-3549; Reuters Messaging: Twitter @shuzhang4))


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