ARAMCO'S OIL PRICING
Saudi Arabia produces and sells its crude oil via Saudi Aramco, its state-owned oil company. Like many such companies, Saudi Aramco sells its oil to long-term customers at an official selling price (OSP). Saudi Aramco adjusts the OSP monthly based on specific conditions in different regions of the world.
For example, refiners in the United States that import Arab Light crude oil this month will expect to pay the Argus Sour Crude Index (ASCI) price plus a differential of +$3.65/barrel. While differentials…
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