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Kuwait raises August crude OSP to Asia by 85 cents per barrel
Kuwait's crude price formula is loosely linked to that of Saudi Arabia's Arab Medium grade.
July 11, 2012 12:00 by Reuters
Kuwait raised the official selling price (OSP) for its crude sales to Asian buyers for August by 85 cents a barrel from the previous month to 70 cents a barrel above the average of Oman/Dubai quotes, trade sources said on Wednesday.
The July OSP was 15 cents below 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 Chris Gallagher)