Wednesday, September 22, 2021

Kuwait drops crude prices for sales to Asia

KUWAIT: Kuwait dropped the official selling prices (OSPs) for two crude grades it sells to Asia in October from September, a price document reviewed by Reuters showed on Friday.

Price cuts for Kuwaiti crude were slightly deeper than comparative grades from Saudi Arabia in October.

Kuwait Petroleum Corp. has set the October Kuwait Export Crude (KEC) price at $1.25 a barrel above the average of DME Oman and Platts Dubai quotes, down $1.10 from the previous month.

The producer also reduced the October Kuwait Super Light Crude (KSLC) OSP to $1.95 a barrel above Oman/Dubai quotes, down $1.20 from the previous month.

The price cut for KEC was 10 cents more than that for Saudi’s Arab Medium crude in the same month.

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