Saudi Aramco sets November’s official selling price of Arab crude

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Saudi Aramco announced its November official selling price (OSP) to North America for its flagship Arab Light crude at $7.45 per barrel above the Argus Sour Crude Index (ASCI).

 

For buyers in West Europe and the Europe-Mediterranean, the Arab Light price differential was set at $7.20 and $6.30, respectively above the ICE Brent, Aramco said in an emailed statement to Argaam. 

 

The Arab Light crude grade to East Asia was priced at $4.00 above the average of the Oman and Dubai benchmarks, as shown in the following table: 

 

Arab Crude OSP for November ($/barrel) 

Region 

Super Light 

Extra Light 

Light 

Medium 

Heavy 

North America   

--

+9.60

+7.45

+8.15

+7.70

West Europe 

--

+8.50

+7.20

+6.00

+3.30

East Asia 

+5.45

+3.35

+4.00

+3.45

+1.70

Europe – The Mediterranean 

--

+7.70

+6.30

+5.30

+ 2.30
 

Aramco produces five grades of crude: Super Light, Arab Light, Arab Extra Light, Arab Medium and Arab Heavy, according to Argaam’s data. 

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