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SINGAPORE: Kuwait dropped the official selling price (OSP) for one of two crude grades it sells to Asia in December from the previous month, a price document reviewed by Reuters showed on Monday.
The producer has set the December Kuwait Export Crude (KEC) price at $3.20 a barrel above the average of Oman/Dubai quotes, down 80 cents from the previous month.
It also set the December Kuwait Super Light Crude (KSLC) OSP at $6.55 a barrel above Oman/Dubai quotes, 10 cents higher than the previous month.
The price cut for KEC was on par with that for Saudi Arabia's Arab Medium crude in the same month. (Reporting by Muyu Xu; Writing by Florence Tan; Editing by Jacqueline Wong)