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Kuwait raises Nov crude OSP to Asia by 20 cts/bbl

Kuwait set its OSP at $2.30 per barrel.

October 12, 2010 8:51 by

Kuwait has raised the official selling price (OSP) for its crude oil sales to Asian buyers for November by 20 cents to $2.10 a barrel below the average of Oman/Dubai quotes, traders said on Tuesday.

That is within the range of expectations in a Reuters survey.

Kuwait set its OSP at $2.30 per barrel below the Oman/Dubai average for October loading. For more OSPs see .

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

(Reporting by Osamu Tsukimori; Editing by Joseph Radford)

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