State-owned Saudi Arabian Oil Co. lifted most of its
official selling prices for March term supplies of crude oil to
Northwest Europe
, but cut most
OSPs to
Asia
, the company said Wednesday.
As for supplies to the U.S, it cut OSPs of light grades, but raised the OSP for
Arab Heavy.
Aramco set the Arab light OSP to the
U.S.
at a discount of 75 cents versus the Argus Sour Crude Index, down 15 cents from
February. The March OSP for Arab light to Northwest Europe was set at a
discount of $1.65 to the Brent Weighted Average, or BWave, compared with -$1.80
the previous month.
Official selling prices of light and medium grades to
Asia
were cut by between
10 and 50 cents.