Saudi Arabia Cuts May Crude Prices to Asia by $4.2 Per Barrel

Rania ElGamal
Monday, April 13, 2020

Saudi Arabia's state oil giant Aramco has set the May price for its Arab light crude oil to Asia at a discount of $7.3 to the Oman/Dubai average, down $4.2 a barrel from April, according to a document seen by Reuters on Monday.

It has cut the May OSP of its Arab light crude oil to the United States to a discount of $0.75 per barrel versus ASCI, down $3 a barrel from April, according to the document.

Aramco left its OSP for Arab light crude oil to Northwestern Europe unchanged from April at a discount of $10.25 per barrel to ICE Brent. 

(Reporting by Rania ElGamal and Dahlia Nehme; Editing by Mark Potter)

Categories: Asia China Saudi Arabia Crude Oil

Related Stories

Serica Energy Agrees $194M Pharos Energy Acquisition

BP Moves Indonesia CCUS Project Into Offshore Installation Phase

QatarEnergy Prolongs LNG Force Majeure, Charters Out Tankers

ABL Gets Papua New Guinea FSO Job

Oil Rises on Dual Shipping Threat in Hormuz and Red Sea

Oil Rises 2% as Middle East Hostilities Escalate

Unity Enters Asia-Pacific Market with Malaysia P&A Work

Noble Gets $136M Brunei Drillship Job

ONGC Plans Major New Indian Oil Reserve

Hormuz Standoff Risks Chronic Instability for Gulf Oil Flows

Current News

Serica Energy Agrees $194M Pharos Energy Acquisition

Oil Eases After Topping $100, Still Set for Weekly Rise

BP Moves Indonesia CCUS Project Into Offshore Installation Phase

Eni-Petronas JV Starts Indonesia-Bound FPSO Construction

QatarEnergy Prolongs LNG Force Majeure, Charters Out Tankers

Chevron Enlists Velesto’s Jack-Up Rig for Drilling Job off Malaysia

ABL Gets Papua New Guinea FSO Job

Energean Lifts Karish Fields FPSO Oil Processing Capacity

Oil Rises on Dual Shipping Threat in Hormuz and Red Sea

ADNOC Approves $6.2B Offshore Umm Shaif Gas Project

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com