Kuwait drops crude prices for Asia for 2nd month in November
Kuwait dropped the official selling prices (OSPs) for two crude grades it sells to Asia for a second straight month in November, a price document reviewed by Reuters showed on Monday.
Kuwait Petroleum Corp (KPC) has set the November Kuwait Export Crude (KEC) price at 90 cents a barrel above the average of Oman/Dubai quotes, down 35 cents from the previous month.
The price cut for KEC was 5 cents less than that for Saudi’s Arab Medium crude in the same month.
KPC also reduced the November Kuwait Super Light Crude (KSLC) OSP to $1.80 a barrel above Oman/Dubai quotes, down 15 cents from the previous month.
Source: Reuters (Reporting by Florence Tan; Editing by Kim Coghill)