Singapore — State oil firm Petronas has set the price factor for Malaysian Crude Oil (MCO) for December at $8.30 per barrel, up $1.00 from the previous month, the company said in a statement late on Monday
* The monthly price factor is added to the average of Platts’ dated Brent prices published in the month to derive the Malaysian crude official selling price (OSP)
* Petronas changed its OSP mechanism effective January 2017, basing its benchmark price on a basket of four Malaysian crude grades Labuan, Miri Light, Kikeh and Kimanis
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- Reuters