Saudi Aramco drops November crude price to Asia by 40 cents - Reuters

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Saudi Aramco logo is pictured at the oil facility in Abqaiq, Saudi Arabia October 12, 2019. REUTERS/Maxim Shemetov/File Photo

LONDON, Oct 5 (Reuters) - Top oil exporter Saudi Arabia cut the November official selling price (OSP) to Asia for its flagship Arab Light crude to $1.30 a barrel above the Oman/Dubai average, the country's state oil producer Aramco (2222.SE) said on Tuesday.

Saudi Arabia set its Arab Light OSP to northwest Europe at a discount of $2.40 a barrel against ICE Brent for November and its OSP to the United States was at a premium of $1.25 a barrel over Argus Sour Crude Index (ASCI).

Saudi term crude supplies to Asia are priced as a differential to the Oman/Dubai average:

ASIA

UNITED STATES (versus ASCI)

Prices at Ras Tanura destined for Northwest Europe are set against ICE Brent:

NW EUROPE

Prices at Ras Tanura for Saudi oil destined for the Mediterranean are set against ICE Brent:

MEDITERRANEAN

Reporting by Julia Payne and Swati Verma in Bengaluru Editing by Marguerita Choy

Our Standards: The Thomson Reuters Trust Principles.

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