Sources say ARAMCO is considering cutting the official selling price (OSP) for
crude loaded in the Gulf of Oman to compensate buyers for surging freight and
boost attractiveness to Asian refiners. Discussions with some Asian buyers cover
potential discounts for cargoes offered this week that are due to load
mid-to-late October and be sold via ship-to-ship transfers; one source put the
discount being discussed at about $9/bbl. In recent weeks, barrels loaded
outside the Strait of Hormuz in the Gulf of Oman have been trading at a
$10–20/bbl premium to monthly OSP after Saudi increased exports from inshore
fields.
