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Oil report

UPDATE 1-Saudi Arabia cuts December crude official prices to Asia

(Adds table)

Nov 5 (Reuters) - Saudi Arabia’s state oil producer Aramco lowered its December official selling price (OSP) for its Arab Light crude to Asia by $0.10 a barrel, setting it at a minus $0.50 per barrel versus the Oman/Dubai average, according to a document seen by Reuters on Thursday.

Aramco was expected to maintain or slightly cut its December OSPs for Asian buyers, according to a Reuters survey.

The company set the Arab Light OSP to Northwestern Europe at a discount of $1.40 a barrel over ICE Brent, up $0.60 from November and to the United States at plus $0.85 per barrel over ASCI (Argus Sour Crude Index), down $0.20 from the previous month.

UNITED STATES

DEC NOV CHANGE EXTRA LIGHT +1.20 +1.40 -0.20 LIGHT +0.85 +1.05 -0.20 MEDIUM +0.15 +0.35 -0.20 HEAVY -0.20 0.00 -0.20 Prices at Ras Tanura destined for Northwest Europe are set against ICE Brent: NW EUROPE

DEC NOV CHANGE EXTRA LIGHT -1.30 -1.90 0.60 LIGHT -1.40 -2.00 0.60 MEDIUM -1.30 -2.00 0.70 HEAVY -1.30 -2.30 1.00 Saudi term crude supplies to Asia are priced as a differential to the Oman/Dubai average: ASIA

DEC NOV CHANGE

SUPER LIGHT +0.65 +0.85 -0.20 EXTRA LIGHT -0.70 -0.60 -0.10 LIGHT -0.50 -0.40 -0.10 MEDIUM -0.20 -0.30 0.10

HEAVY -0.30 -0.30 0.00

Prices at Ras Tanura for Saudi oil destined for the Mediterranean are set against the ICE Brent: MEDITERRANEAN

DEC NOV CHANGE

EXTRA LIGHT -1.10 -1.50 0.40 LIGHT -1.20 -1.90 0.70 MEDIUM -1.30 -2.10 0.80 HEAVY -1.20 -2.10 0.90 (Reporting by Sumita Layek, Swati Verma and Asha Sistla in Bengaluru; Editing by Jon Boyle and Edmund Blair)

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