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Saudi Aramco sets official selling price of Arab crude for July
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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