RIYADH: According to the state-owned oil giant’s most recent price list, Saudi Aramco has lowered its December pricing for Arab Light crude oil for Asian clients. Arab Light crude’s official selling price was lowered by 50 cents, making it $1.70 per barrel more than the regional average.
Likewise, the OSPs for Arab Medium and Heavy grades received modest reduction of 40 cents per barrel, while the OSPs for Arab Extra Light and Super Light grades were also lowered by 50 cents per barrel for December.
The December OSP for Aramco’s flagship Arab Light oil in North America was fixed at $3.80 per barrel over the Argus Sour oil Index. An official release stated that the price difference for Arab Light crude in Western Europe was established at $0.15 over the ICE Brent benchmark.
Super Light, Arab Light, Arab Extra Light, Arab Medium, and Arab Heavy are the five types of crude oil that Aramco produces.
Super Light has a density of over 40, Arab Extra Light is between 36 and 40, Arab Light is between 32 and 36, Arab Medium is between 29 and 32, and Arab Heavy is less than 29. These classes are differentiated by their density.
Also Read:
PIF of Saudi Arabia will Purchase a 54% Share in MBC Group
Saudi Arabia Launches its Ninth Round of “Sah” savings Products, which give a Return of 4.89%
