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2019-06-03 12:35:00

ARAMCO'S OIL PRICES DIFFERENCES

ARAMCO'S OIL PRICES DIFFERENCES

PLATTS - Saudi Aramco has raised the price differentials for all of its five crude oil grades loading in July and bound for Asia, the company said in a notice Sunday.

Aramco hiked the July price differential for its flagship Arab Light grade by 60 cents/b to a premium of $2.70/b to the average of Oman/Dubai, the highest since January 2014, when it was a premium of $3.75/b to Oman/Dubai.

The Arab Medium and Heavy grade July price differentials were raised by 50 cents/b from June to a premium of $1.95/b to Oman/Dubai and 60 cents/b from June to a premium of 75 cents/b to Oman/Dubai respectively.

This was the highest differential for both grades since January 2012, when the Arab Medium grade price differential was at a premium of $2.75/b to Oman/Dubai, and the Arab Heavy grade price differential at a premium of $1.35/b to Oman/Dubai.

Aramco also raised the July OSP differential for its Arab Extra Light crude grade bound for Asia by 50 cents/b from June to a premium of $3.20/b to Oman/Dubai. It raised the July OSP differential for Arab Super Light by 30 cents/b from June to a premium of $4.85/b to Oman/Dubai.

The July Arab Extra Light grade price differential was the highest since July 2018, when it was at a premium of $3.30/b to Oman/Dubai, while the July Arab Super Light grade price differential was the highest since November 2018, when it was at a premium of $5.45/b to Oman/Dubai.

SAUDI ARAMCO'S JUNE OSP DIFFERENTIALS FOR ASIA ($/B)

  Benchmark Mar Apr May Jun Jul Change
Super Light (Oman+Dubai)/2 3.05 3.05 3.35 4.55 4.85 0.30
Extra Light (Oman+Dubai)/2 0.95 1.45 1.70 2.70 3.20 0.50
Arab Light (Oman+Dubai)/2 0.7 1.20 1.40 2.10 2.70 0.60
Arab Medium (Oman+Dubai)/2 0.45 0.85 1.05 1.45 1.95 0.50
Arab Heavy (Oman+Dubai)/2 -0.65 -0.45 -0.25 0.15 0.75 0.60

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