SINGAPORE: State oil firm Petronas has set the price factor for Malaysian Crude Oil (MCO) for August at $5.70 per barrel, down 40 cents from the previous month, the company said on Wednesday
* The monthly price factor is added to the average of Platts' dated Brent prices published in the month to derive the Malaysian crude official selling price (OSP)
* Petronas changed its OSP mechanism effective January 2017, basing its benchmark price on a basket of four Malaysian crude grades Labuan, Miri Light, Kikeh and Kimanis.
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