DUBAI/SINGAPORE (Reuters) - Kuwait Petroleum Corp set the price for Kuwait Super Light Crude (KSLC) at $2.30 a barrel above Oman-Dubai quotes for October and at a premium of $3.05 a barrel for November, a source with knowledge of the matter said on Wednesday.
The official KSLC selling prices (OSPs) were competitive, an Asian crude buyer said, as they were in between the prices for two Saudi light grades.
KSLC's OSPs are more than $2 a barrel below that of Saudi's Arab Super Light crude and 50 cents a barrel higher than Saudi's Arab Extra Light, Reuters data showed.
Kuwait, the fifth largest OPEC producer, increased its oil exports to Asia by launching this new grade in the middle of this year. KSLC's production is expected to reach 120,000 barrels per day.
(Reporting by Rania El Gamal in Dubai and Florence Tan in Singapore; Editing by Susan Fenton)
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app