Survey, Energy News, ET EnergyWorld

SINGAPORE: Top oil exporter

Saudi Arabia

may maintain or cut slightly its

crude 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 for

Saudi 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 average

Middle 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 Saudi

crude 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....

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