Insight
Saudi June 2020 Official Selling Prices (OSPs) – Are we getting back to normal?
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
By keeping Asian OSPs at deep discounts to benchmark, Saudi Aramco remains focused on ensuring that its crude oil remains very competitive in Asia, the largest market for its crude exports. By contrast, it has steeply increased the OSPs to the US and European refiners. With the OPEC+ agreement and the additional 1.0 million b/d of cut, which Saudi Arabia announced on the 11th May 2020, Saudi Arabia’s crude exports could fall to below 5 million b/d by June 2020, much lower than annual average of 6.8 million b/d in 2019. The reduced export availability of crude enables Saudi to change its Official Selling Prices (OSP’s) for June.
Table of contents
- Saudi Arabia June 2020 OSPs shows a clear divergence between regions
- Impact for Asian refiners
Tables and charts
This report includes the following images and tables:
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Arab Light OSPs premium/discount to regional benchmarksKey crude differentials against North Sea DatedSingapore FCC margin difference with Arab Light at June OSPSingapore FCC margin difference with Arab Light at May OSP
What's included
This report contains:
