Petronas sets crude price factor at US$3.2

SINGAPORE: Petroliam Nasional Bhd (Petronas) has set the price factor for Malaysian Crude Oil (MCO) for this month at US$3.20 per barrel, down US$0.30 from US$3.50 per barrel in the previous month, said it yesterday. The monthly price factor is added to the average of Platts’ dated Brent prices published in the month to derive the

Malaysian crude official selling price (OSP). Petronas changed its OSP mechanism effective January, basing its benchmark price on a basket of four Malaysian crude grades Labuan, Miri Light, Kikeh and Kimanis. Reuters