Saudi Arabia raises March Arab Light crude OSP to Europe

The company kept its Arab Light OSP for Asian customers unchanged from the previous month

  
Image used for illustrative purpose. A derek pumps in a oil field January 15, 2003 near the Saudi Arabian border, Kuwait.

Image used for illustrative purpose. A derek pumps in a oil field January 15, 2003 near the Saudi Arabian border, Kuwait.

Getty Images/Joe Raedle

Saudi Arabia's state oil producer Aramco raised its March official selling price (OSP) for its Arab Light crude to Northwest Europe by $1.40 a barrel from the previous month, setting it at a discount of $0.50 per barrel against ICE Brent, according to a document seen by Reuters on Thursday.

The company kept its Arab Light OSP for Asian customers unchanged from the previous month at a premium of $1 a barrel versus the Oman/Dubai average.

The OSP to the United States was set at a premium of $0.85 a barrel to the Argus Sour Crude Index (ASCI) for March, $0.10 above February's premium.

(Reporting by Nakul Iyer, Asha Sista, Shreyansi Singh in Bengaluru, Shu Zhang in Singapore Editing by David Goodman ) ((nakul.iyer@thomsonreuters.com; Within U.S. +1 646 223 8780, Outside U.S. +91 80 6749 0417; Reuters Messaging: nakul.iyer.thomsonreuters.com@reuters.net))


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