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Saudi Aramco raises all June Asia-bound crude OSPs by $0.70-$1.20/b

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Saudi Aramco raises all June Asia-bound crude OSPs by $0.70-$1.20/b

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Singapore — Saudi Aramco has raised the official selling prices of all of its crude grades loading in June and headed to Asia by 70 cents/b to $1.20/b, a company issued notice seen by S&P Global Platts showed Thursday.

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Aramco hiked the OSP for Arab Super Light by $1.20/b from May to a premium of $6.30/b over the average of Oman/Dubai in June. The Arab Super Light OSP for Asia was last higher in June 2014 when it was at a premium of $6.45/b, Platts data showed.

The state-owned producer raised the OSP of its Arab Extra Light grade by 90 cents/b from May to a premium of $3.25/b in June, while pushing Arab Light up 70 cents/b month on month to a premium of $1.90/b to Oman/Dubai, the document showed.

The Arab Extra Light OSP was last higher in September 2014, at a premium of $3.40/b to Oman/Dubai, while the Arab Light OSP was last higher in August 2014 at a premium of $2.05/b, the data showed.

Aramco also raised the OSP for June loading Asia-bound Arab Medium by 80 cents/b from May, to a discount of 5 cents/b to Oman/Dubai. It raised Arab Heavy by 70 cents/b to a discount of $1.35/b to the Oman/Dubai average in June.

Both grades were previously higher earlier this year in February, when Arab Medium was at a premium of 5 cents/b, and Arab Heavy was at a discount of $1.25/b, according to Platts data.

--Eesha Muneeb, eesha.muneeb@spglobal.com

--Edited by Irene Tang, irene.tang@spglobal.com