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)