Kuwait raises May crude prices to Asia to record levels

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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.