Petronas sets April crude price factor at 10-month low
State oil firm Petronas has set the price factor for Malaysian Crude Oil (MCO) for April at $5.70 per barrel, down $3.60 from the previous month, the company said on Friday.
* This is the lowest monthly price factor since May
* 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 effective January 2017, basing its benchmark price on a basket of four Malaysian crude grades Labuan, Miri Light, Kikeh and Kimanis
Source: Reuters (Reporting by Florence Tan)