AGL 40.39 Increased By ▲ 0.39 (0.98%)
AIRLINK 126.90 Decreased By ▼ -0.14 (-0.11%)
BOP 6.61 Decreased By ▼ -0.06 (-0.9%)
CNERGY 4.47 Decreased By ▼ -0.04 (-0.89%)
DCL 8.54 Decreased By ▼ -0.01 (-0.12%)
DFML 41.57 Increased By ▲ 0.13 (0.31%)
DGKC 86.90 Increased By ▲ 0.05 (0.06%)
FCCL 32.18 Decreased By ▼ -0.10 (-0.31%)
FFBL 64.90 Increased By ▲ 0.10 (0.15%)
FFL 10.18 Decreased By ▼ -0.07 (-0.68%)
HUBC 109.39 Decreased By ▼ -0.18 (-0.16%)
HUMNL 14.60 Decreased By ▼ -0.08 (-0.54%)
KEL 5.11 Increased By ▲ 0.06 (1.19%)
KOSM 7.49 Increased By ▲ 0.03 (0.4%)
MLCF 41.25 Decreased By ▼ -0.13 (-0.31%)
NBP 59.60 Decreased By ▼ -0.81 (-1.34%)
OGDC 194.80 Increased By ▲ 4.70 (2.47%)
PAEL 28.22 Increased By ▲ 0.39 (1.4%)
PIBTL 7.79 Decreased By ▼ -0.04 (-0.51%)
PPL 151.90 Increased By ▲ 1.84 (1.23%)
PRL 26.52 Decreased By ▼ -0.36 (-1.34%)
PTC 16.10 Increased By ▲ 0.03 (0.19%)
SEARL 79.25 Decreased By ▼ -6.75 (-7.85%)
TELE 7.47 Decreased By ▼ -0.24 (-3.11%)
TOMCL 35.39 Decreased By ▼ -0.02 (-0.06%)
TPLP 8.23 Increased By ▲ 0.11 (1.35%)
TREET 16.00 Decreased By ▼ -0.41 (-2.5%)
TRG 52.75 Decreased By ▼ -0.54 (-1.01%)
UNITY 26.75 Increased By ▲ 0.59 (2.26%)
WTL 1.25 Decreased By ▼ -0.01 (-0.79%)
BR100 9,936 Increased By 52.8 (0.53%)
BR30 30,919 Increased By 319.2 (1.04%)
KSE100 93,792 Increased By 436.2 (0.47%)
KSE30 29,054 Increased By 122.7 (0.42%)

Saudi Aramco has cut the January price for its Arab Light grade for Asian customers by $1.20 a barrel versus December to a discount of $0.75 a barrel to the Oman/Dubai average, it said on Tuesday. The company raised its Arab Light OSP to Northwest Europe by $0.30 a barrel for January from the previous month at a discount of $4.20 a barrel to the Brent Weighted Average (BWAVE).
The Arab Light OSP to the United States was set at a premium of $0.05 a barrel to the Argus Sour Crude Index (ASCI) for January, down $0.30 a barrel from the previous month. Because the Brent to Dubai Arab Light prompt month spread rose to $3.15 a barrel from $2.55 after the OPEC deal, Saudi Arabia had more leeway to raise their OSPs to Europe and remain competitive, said Jeff Quigley, Energy Markets Director at Stratas Advisors, a Houston-based consultancy. "They are trying to capitalise on the OPEC deal-driven price increase in Europe while not losing market share in Asia," Quigley said.

Copyright Reuters, 2016

Comments

Comments are closed.