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TOKYO: Kuwait has cut the official selling price (OSP) for its crude sales to Asian buyers for June by $1.20 a barrel from the previous month to 60 cents a barrel below the average of Oman/Dubai quotes, a trade source said on Friday.
The May OSP was 60 cents above the Oman/Dubai average.
Kuwait's crude price formula is loosely linked to that of Saudi Arabia's Arab Medium grade.