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Aramco storage tanks
Saudi Aramco announced its July official selling price (OSP) to North America for its flagship Arab Light crude at $7.15 per barrel above the Argus Sour Crude Index (ASCI).
For buyers in West Europe, the Arab Light price differential versus the ICE Brent was set above $3.00 per barrel in July, Saudi Aramco said in a statement obtained by Argaam.
Moreover, in Europe-The Mediterranean, the Arab Light price differential versus the ICE Brent was set above $3.00 per barrel, while the price of Arab Light crude grade to East Asia was determined at $3.00 above the average of the Oman and Dubai benchmarks, as shown in the following table:
|
Arab Crude OSP for July ($/barrel) |
|||||
|
Region |
Super Light |
Extra Light |
Light |
Medium |
Heavy |
|
North America |
-- |
+9.30 |
+ 7.15 |
+ 7.85 |
+ 7.40 |
|
West Europe |
-- |
+ 3.60 |
+ 3.00 |
+ 2.50 |
+ 0.10 |
|
East Asia |
+ 4.75 |
+ 2.55 |
+ 3.00 |
+ 2.45 |
+ 0.80 |
|
Europe – The Mediterranean |
-- |
+ 3.80 |
+ 2.50 |
+ 2.20 |
(0.70) |
Aramco produces five grades of crude: Super Light, Arab Light, Arab Extra Light, Arab Medium and Arab Heavy, according to Argaam’s data.
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