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|11 October, 2018

Kuwait raises Nov crude selling price for Asia - sources

Kuwait will sell crude to its Asian customers at a premium of 15 cents a barrel

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/DUBAI: Kuwait has raised the November official selling price (OSP) for crude oil sold to Asia by 75 cents a barrel from the previous month, two industry sources told Reuters on Thursday.

Kuwait will sell crude to Asian customers at a premium of 15 cents a barrel to the average of Oman and Dubai benchmark prices in November, compared with a discount of 60 cents in October.

The prices by region are as follows: Region NOVEMBER Asia Oman/Dubai +$0.15 NW Europe DTD -$5.10 Mediterranean DTD -$2.80 United States ASCI -$0.80

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(Reporting by Florence Tan and Rania El Gamal; editing by Jason Neely) ((rania.elgamal@thomsonreuters.com; +971 562 160 434; Reuters Messaging: rania.elgamal.reuters.com@reuters.net ; Twitter: https://twitter.com/Rania_ElGamal))