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Kuwait raises August crude OSP to Asia by 85 cents per barrel

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)

Tags: asia, August crude OSP, crude, Kuwait, oil and resources, price

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