Kuwait cuts December Kuwait Export Crude price for Asia – sources
Kuwait has cut the official selling price (OSP) for December for its Kuwait Export Crude (KEC) to $1.65 a barrel above the average of Oman/Dubai quotes, down 35 cents a barrel from the previous month, two industry sources said.
The producer has raised the December Kuwait Super Light Crude (KSLC) OSP to $5 a barrel above Oman/Dubai quotes, up $1.50 a barrel from the previous month, they said.
The price hike for KSLC followed top oil exporter Saudi Arabia’s move to raise its December OSPs for its Arab Super Light, Extra Light and Light grades for Asian customers.
Source: Reuters (Reporting By Shu Zhang; Editing by Christian Schmollinger)