Platts updates Malaysia's Miri Light crude OSP outright calculation

Platts, part of S&P Global Commodity Insights, has updated the calculation of Malaysia's Miri Light crude outright official selling prices following a decision by Petronas to introduce a standalone OSP differential for the crude for cargoes loading from October.

Effective immediately, the outright OSP for Miri Light (AAILX00) will be calculated as the sum of the grade's newly introduced OSP differential (MIRIA00) plus the monthly average of Platts Dated Brent. Historical data published under AAILX00 until September 2025 reflects the sum of the MCO OSP Alpha (AAOTZ00) and the monthly average of Platts Dated Brent.

This change was outlined in a Sept. 22 subscriber note.

The MCO OSP Alpha is the company's monthly adjustment factor based on the average premium, or discount, for its flagship grades Labuan, Miri Light, Kikeh and Kimanis against the Platts Dated Brent crude assessment.

According to Petronas, Miri Light will continue to form part of the LMKK basket for the alpha despite the introduction of a differential for the grade.

Petronas also issues OSP differentials against the alpha for four other crude grades outside of the basket. Petronas issues the Malaysia Crude Oil OSP Alpha one month in advance of loading. The company issues outright OSPs for all crude oil grades following the month of loading.

Platts publishes the OSPs issued by Petronas as soon as they are made available.

The OSP differentials and outright OSPs for the Malaysian crude OSPs are published in the Platts price database under the above symbols and on the Platts Global Alert page 1062.

Please send questions, comments or feedback to asia_crude@spglobal.com and PriceGroup@spglobal.com.

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