Top oil exporter Saudi Arabia raised the official selling price (OSP) for its flagship Arab Light crude to Asia in April in line with expectations, trade sources said.
Saudi Aramco set the OSP for April-loading Arab Light crude to Asia at $1.70 a barrel over the Oman/Dubai average, slightly above the previous month’s OSP of $1.50 a barrel.
The price was in line with market expectations that Saudi Arabia would keep the OSP of its flagship Arab Light crude to Asia unchanged or up by 10-20 cents a barrel for April.
April OSPs to northwest Europe were lowered by 60 to 70 cents a barrel, and for crude going to the United States the OSPs were little changed.
(Reporting by Harshit Verma in Bengaluru; Editing by Christopher Cushing and Tom Hogue)