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

Valeura Wraps Up Infill Drilling Campaign in Gulf of Thailand

Sapura Energy Nets $720M from Multiple Drilling Services Contracts

US Operator Finds Oil Offshore Vietnam

TotalEnergies Wraps Up Acquisition of SapuraOMV’s Gas Assets

Sunda Energy Closing in on Jack-Up Deal for Chuditch-2 Appraisal Well

Sembcorp Signs 10-Year LNG Supply Contract with Chevron

QatarEnergy Signs Deal with Shell for Long-Term LNG Supply to China

Valeura Boosts Production at Jasmine Field with Five New Wells Now Onstream

Velesto Completes Removal of Wrecked Naga 7 Jack-Up Rig Off Malaysia

Seatrium Delivers Fifth Jack-Up to Borr Drilling

Current News

Argentina YPF to Shed Offshore Exploration Projects

Cairn India Might Invest in US Oil Servicing Firms to Increase Production

All Gas from Conrad’s Mako Field to be Sold to Indonesia’s PLN

ORE Catapult and Japan’s FLOWRA to Jointly Advance Floating Wind

Shell Hires Noble’s Drillship for Work in Southeast Asia

Second Hai Long Substation Heads to Project Site Offshore Taiwan

Shell Launches Next Phase of Malaysia's Deepwater Project with First Oil Production

CNOOC Discovers ‘Vast Exploration Prospects’ in China’s Beibu Gulf Basin

China Unveils Plans for New Offshore Wind Farms to Tackle Carbon Emissions

Japan and South Korea Look to Partner Up with US for Alaska Pipeline

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