|10 December, 2019

Kuwait cuts January Export Crude price for Asia- source

The producer has raised the January Kuwait Super Light Crude (KSLC) OSP to $5.80 a barrel above Oman/Dubai quotes, up 80 cents from the previous month,

Image used for illustrative purpose. Oil rig workers attach another piece of pipe onto the ChevronTexaco drilling platform January 15, 2003 near the Saudi Arabian border, Kuwait.

Image used for illustrative purpose. Oil rig workers attach another piece of pipe onto the ChevronTexaco drilling platform January 15, 2003 near the Saudi Arabian border, Kuwait.

Getty Images/Joe Raedle

SINGAPORE- * Kuwait has cut the official selling price (OSPs) for January Kuwait Export Crude (KEC) it sells to Asia to $1.55 a barrel above the average of Oman/Dubai quotes, down 10 cents a barrel from the previous month, an industry source said on Tuesday

* The producer has raised the January Kuwait Super Light Crude (KSLC) OSP to $5.80 a barrel above Oman/Dubai quotes, up 80 cents from the previous month, the source said

* The price cut for KEC and price hike for KSLC followed top oil exporter Saudi Arabia's move to reduce January OSP for Arab Medium and to raise its January OSPs for light crude grades

(Reporting by Shu Zhang, editing by Louise Heavens) ((shu.zhang@thomsonreuters.com; +65-6870-3549; Reuters Messaging: Twitter @shuzhang4))

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