Pricing document: Kuwait cuts crude prices to Asian buyers in May

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SINGAPORE (Reuters) – Kuwait lowered the official selling price to three degrees of crude it sold to Asia in May, a pricing document seen by Reuters showed on Thursday.

Kuwait set the price of Kuwaiti export crude for May at $ 7.80 a barrel, below the average prices offered for Oman and Dubai crude, a decrease of $ 3.15 from the previous month.

It set the official selling price for the light, premium crude for May at $ 7.60 a barrel, below the average prices offered for Oman and Dubai crude, a decrease of $ 4.50 from the previous month.

The official selling price of Khafji crude was set at $ 7.80 a barrel, below the average prices offered for Oman crude on the Dubai Energy Exchange and Dubai crude on Platts, down $ 3.05.

The cut in the official selling price for Kuwait comes after Saudi Arabia, the world’s largest oil exporter, cut sales to Asia in May.

Prepared by Moataz Mohamed for the Arabic Bulletin – Edited by Duaa Mohamed





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