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Saudi Arabia cuts December crude official prices to Asia

FILE PHOTO: A fuel pump assistant stands next to an old fuel pump during the early hours near the village of Salwa at the Qatari-Saudi border, south of the eastern provience of Khobar, Saudi Arabia January 29, 2016. REUTERS/Hamad I Mohammed

(Reuters) - Saudi Arabia’s state oil producer Aramco lowered its December official selling price (OSP) for its Arab Light crude to Asia by $0.10 a barrel, setting it at a minus $0.50 per barrel versus the Oman/Dubai average, according to a document seen by Reuters on Thursday.

Aramco was expected to maintain or slightly cut its December OSPs for Asian buyers, according to a Reuters survey.

The company set the Arab Light OSP to Northwestern Europe at a discount of $1.40 a barrel over ICE Brent, up $0.60 from November and to the United States at plus $0.85 per barrel over ASCI (Argus Sour Crude Index), down $0.20 from the previous month.

Reporting by Sumita Layek, Swati Verma and Asha Sistla in Bengaluru; Editing by Jon Boyle and Edmund Blair

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