31 Jan '17, 2pm
Saudi Aramco could raise March crude OSP differentials for Asia: traders #OOTT #OPEC
Saudi Aramco is expected to raise the March official selling prices of its Asia-bound crude oil, largely due to the stronger Dubai crude oil market structure, traders said Tuesday. Most traders surveyed by S&P Global Platts said they expected Aramco to raise the March OSP differential of its Asia-bound Arab Light crude by around 10-20 cents/b from a discount of 15 cents/b to the Platts Oman/Dubai average in February. The expected increase reflects the narrowing contango in the Dubai market structure, traders said. S&P Global Platts data showed the spread between frontline cash Dubai versus same-month Dubai swaps at minus 26 cents/b over January to date, up from minus 61 cents/b in December.