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Business & Finance

Petronas raises December Malaysian crude OSP to $50.66/bbl

  • The December price for flagship Labuan crude rose by $8 a barrel from $42.66 in November.
04 Jan 2021

SINGAPORE: The official selling price (OSP) of a basket of December-loading Malaysian crude oil grades has been set at $50.66 a barrel, state oil company Petronas said in a pricing document on Monday.

The December price for flagship Labuan crude rose by $8 a barrel from $42.66 in November.

Petronas sets the benchmark based on the spot differentials to dated Brent for the four grades - Labuan, Miri, Kikeh and Kimanis.

The Malaysian crude benchmark mechanism was launched in January 2014 and updated to include the Kimanis crude grade from January 2017.

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