December 4, 2018 / 3:19 PM / 6 days ago

Saudi Arabia cuts January Arab Light crude OSP for Asia

FILE PHOTO: An Aramco oil tank is seen at the Production facility at Saudi Aramco's Shaybah oilfield in the Empty Quarter, Saudi Arabia May 22, 2018. REUTERS/Ahmed Jadallah/File Photo

VIENNA (Reuters) - Saudi Aramco has cut its January price for its Arab Light grade for Asian customers by $1 a barrel versus December to a premium of $0.60 a barrel to the Oman/Dubai average, according to a document seen by Reuters on Tuesday.

The company raised its Arab Light OSP to Northwest Europe by 60 cents a barrel for January from the previous month at a discount of $1.60 to the ICE Brent.

The Arab Light OSP to the United States was set at a premium of $2.90 a barrel to the Argus Sour Crude Index (ASCI), up 50 cents from the previous month.

Reporting by Rania El Gamal, Writing by Nafisa Eltahir; Editing by Kirsten Donovan and David Evans

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