Kuwait drops crude prices for Asia for 2nd month in November

The price cut for KEC was 5 cents less than that for Saudi's Arab Medium crude in the same month

  
Image used for illustrative purpose. Kuwait Oil Tanker Company's new oil tanker Kazimah III sits in the Ahmadi North Pier in Kuwait in this file photo.

Image used for illustrative purpose. Kuwait Oil Tanker Company's new oil tanker Kazimah III sits in the Ahmadi North Pier in Kuwait in this file photo.

REUTERS/Stephanie McGehee

SINGAPORE: Kuwait dropped the official selling prices (OSPs) for two crude grades it sells to Asia for a second straight month in November, a price document reviewed by Reuters showed on Monday.

Kuwait Petroleum Corp (KPC) has set the November Kuwait Export Crude (KEC) price at 90 cents a barrel above the average of Oman/Dubai quotes, down 35 cents from the previous month.

The price cut for KEC was 5 cents less than that for Saudi's Arab Medium crude in the same month.

KPC also reduced the November Kuwait Super Light Crude (KSLC) OSP to $1.80 a barrel above Oman/Dubai quotes, down 15 cents from the previous month.

(Reporting by Florence Tan; Editing by Kim Coghill) ((Florence.Tan@thomsonreuters.com; Reuters Messaging: florence.tan.thomsonreuters.com@reuters.net))


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