Kuwait Cuts May’s Crude OSP to Asia by 10 Cents/BBL
Kuwait has cut the OSP for its crude oil sales to Asian buyers for May by 10 cents a barrel from the previous month to $0.60 cents a barrel above the average of Oman/Dubai quotes, a trade source said on Wednesday
April 11, 2012 10:19 by kippreport
Kuwait has cut the official selling price (OSP) for its crude oil sales to Asian buyers for May by 10 cents a barrel from the previous month to $0.60 cents a barrel above the average of Oman/Dubai quotes, a trade source said on Wednesday.
The April OSP was $0.70 a barrel above the Oman/Dubai average.
Kuwait’s crude price formula is loosely linked to that of Saudi Arabia’s Arab Medium grade. (Reporting by Osamu Tsukimori; Editing by Michael Watson)
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