Kuwait has raised the October official selling price (OSP) for its crude oil sold to Asia by 35 cents per barrel from the previous month, an industry source familiar with the matter said yesterday.
Kuwait will sell crude to its Asian customers at a discount of $1.05 a barrel to the average of the Oman/Dubai benchmark prices in October, compared with a discount of $1.40 in September.
Short-term disruptions and lower exports from OPEC members offset signs of stronger US oil production to help give crude oil prices a lift early Tuesday.
Crude oil prices have been volatil
Iraq and some other oil producers taking part in global output cuts think they should reduce supply by an additional 1 percent to help re-balance the market, according to Iraqi Oil Minister Jabbar al
Oil prices traded close to five-month highs on Tuesday after fresh data showed key Middle Eastern producers continued to cut supply in line with an OPEC-led deal aimed at ending a crude glut.
Oil held gains near $50 a barrel before U.S. crude stockpile data as refiners delay scheduled maintenance after Hurricane Harvey hit the Gulf Coast and shuttered almost a quarter of the nation’s refi
West Texas Intermediate (WTI) and Brent oil prices have increased to $50 and $55, respectively, and bullish oil signs continue to accumulate. Joint Organisations Data Initiative (JODI) just announced