AI Summary
Saudi Aramco's oil tanks
Saudi Aramco set October official selling price (OSP) for its flagship Arab Light crude to North America at $4 per barrel, above the Argus Sour Crude Index (ASCI).
The Arab Light price differential for buyers in West Europe has been set at $0.45 above the ICE Brent, according to an emailed statement from Aramco.
The Arab Light crude grade was priced $0.35 above the ICE Brent for Europe and the Mediterranean, while the price for East Asia was set at $1.3 above the average of the Oman and Dubai benchmarks.
|
Arab Crude OSP for October 2024 ($/barrel) |
|||||
|
Region |
Super Light |
Extra Light |
Light |
Medium |
Heavy |
|
North America |
-- |
+6.25 |
+4.00 |
+4.60 |
+4.25 |
|
West Europe |
-- |
+2.05 |
+0.45 |
-0.35 |
-2.75 |
|
East Asia |
+2.45 |
+1.10 |
+1.30 |
+0.45 |
-0.50 |
|
Europe (Mediterranean) |
-- |
+2.05 |
+0.35 |
-0.25 |
-2.95 |
Aramco produces five grades of crude: Super Light, Arab Light, Arab Extra Light, Arab Medium, and Arab Heavy, according to Argaam data.
The Arab Super light crude is characterized by a density of more than 40, while the Arab Extra light is characterized by a density ranging between 36 and 40. The Arab Light has a density between 32 and 36, the Arab Medium crude has a density between 29 and 32 degrees, and the Arab Heavy has a density of less than 29 degrees.
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