Survey, Energy News, ET EnergyWorld
SINGAPORE: Top oil exporterSaudi Arabia
may maintain or cut slightly itscrude official selling prices
(OSPs) for Asian buyers in December after benchmark Dubai prices and refining margins weakened, a Reuters survey showed on Thursday.
Three of six Asian buyers expect the December OSP forSaudi flagship
grade Arab Light to fall by 10-20 cents a barrel from the previous month, while two others expected prices to hold steady, the survey showed.
The averageMiddle East benchmark cash
Dubai's differential to Dubai swaps has slipped 12 cents this month, indicating weakness in the market.
Weak margins remain a major concern for Asian refiners as cracks for gasoline and naphtha softened from last month.
However, gasoil, jet fuel and fuel oil margins have improved.
Only one respondent expected December Saudicrude prices
to increase by 40 cents a barrel, citing firm demand for spot cargoes in Asia this month especially from Chinese refiners such as Rongsheng Petrochemical.
China's demand also pushed up the other Middle East benchmark, DME Oman this month.Saudi crude OSPs
are usually released a....