Kuwait raises May crude prices to Asia to record levels


Kuwait has raised the official selling prices (OSPs) for two crude grades it sells to Asia in May to record levels, a price document reviewed by Reuters showed on Monday.

The producer has set May Kuwait Export Crude (KEC) price at $9.30 a barrel above the average of Oman/Dubai quotes, up $4.50 from the previous month.

It also raised the May Kuwait Super Light Crude (KSLC) OSP to $9.65 a barrel above Oman/Dubai quotes, up $3.70.

The price hike for KEC was 10 cents more than that for Saudi’s Arab Medium crude in the same month.