Malaysia raises Oct crude price factor to $4.35/bbl – document
Malaysian state oil firm Petronas has set the October price factor for Malaysian Crude Oil (MCO) at $4.35 a barrel, up 45 cents from the previous month, according to a company document reviewed by Reuters on Thursday.
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 from January 2017, basing its benchmark price on a basket of four Malaysian crude grades: Labuan, Miri Light, Kikeh and Kimanis.
Source: Reuters (Reporting by Jessica Jaganathan; Editing by Subhranshu Sahu)