The March price for the basket of Malaysian crude oil, which includes Labuan, Miri Light, Kikeh and Kimanis Blend, increased by $2.09 a barrel from the previous month.

Petronas sets the benchmark based on spot differentials to dated Brent for the four grades.

The Malaysian crude benchmark mechanism was launched in January 2014, and updated to include the Kimanis Blend crude grade starting January 2017.