Commodities
Aramco Sets Official Selling Prices for Arab Light Crude Oil Grades
Saudi Aramco has set the official selling price (OSP) for its Arab Light crude oil grade for October delivery. For North America, the OSP is $4.6 per barrel above the Argus Sour Crude Index (ASCI). In Western Europe, the Arab Light price was set at $2.15 per barrel below the ICE Brent price.
The OSP for Arab Light crude in East Asia was priced at $2.00 below the average price for Oman and Dubai. Aramco produces five density-based grades of crude oil: Super Light (greater than 40 degrees), Arab Extra Light (36-40), Arab Light (32-36), Arab Medium (29-32), and Arab Heavy (below 29).