Saudi Arabia sticks to the script during prolonged oil price losses

摘要

Oil prices came under further pressure on Tuesday after Saudi Aramco released its monthly official selling prices (OSPs) for December 2014 deliveries – which saw the price of Arab Light crude reduced for US buyers. Term crude supplies are priced as a differential to the Argus Sour Crude Index (ASCI) and the Saudis reduced the premium by USD 0.45/barrel to USD 1.60/barrel for its US customers.