Aramco’s oil tanks
Saudi Aramco maintained August official selling price (OSP) for its flagship Arab Light crude to North America at $4.85 per barrel, above the Argus Sour Crude Index (ASCI).
The Arab Light price differential for buyers in West Europe has been set at $4.00 above the ICE Brent, according to an emailed statement from Aramco.
The Arab Light crude grade was priced $3.90 above the ICE Brent for Europe and the Mediterranean, while the price for East Asia was set at $1.8 above the average of the Oman and Dubai benchmarks.
Arab Crude OSP for April ($/barrel)
Region
Super Light
Extra Light
Light
Medium
Heavy
North America
—
+ 7.10
+ 4.85
+5.45
+ 5.10
West Europe
—
+ 5.60
+ 4.00
+ 3.20
+ 0.80
East Asia
+ 2.75
+ 1.60
+ 1.80
+ 1.25
+ 0.50
Europe – The Mediterranean
—
+ 5.60
+ 3.90
+ 3.30
+ 0.60
Aramco produces five grades of crude: Super Light, Arab Light, Arab Extra Light, Arab Medium, and Arab Heavy, according to Argaam data.
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