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Malaysian crude oil OSP calculated at $93.05 for October

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By Shoaib Ur Rehman
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imageSINGAPORE: The official selling price of a basket of Malaysian crude oil for October-loading has been calculated at $93.05 a barrel, traders said on Monday.

Petronas introduced a new benchmark starting Jan. 1, based on the spot differentials to dated Brent for three grades - Labuan, Miri and Kikeh.

Kimanis, a new grade that will start production in the first quarter of next year, could be included in the price reference basket in 2015.

As a result of the change, Tapis Blend was dropped as the key pricing reference to dated Brent due to low liquidity and falling output.

Copyright Reuters, 2014

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