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Markets

Kuwait raises Nov crude OSP to Asia by $0.75/bbl

Published October 11, 2012 Updated October 11, 2012 04:12am

oil-barrelTOKYO: Kuwait has raised its official selling price (OSP) for crude to Asian buyers for November by $0.75 a barrel from the previous month, a trade source said on Thursday.

 

The OSP for November will be 40 cents a barrel above the average of Oman/Dubai quotes, compared with 35 cents a barrel below the average for October.

 

Kuwait's crude price formula is loosely linked to that of Saudi Arabia's Arab Medium grade.

 

Copyright Reuters, 2012

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