Aramco Weighs $9 a Barrel Discount to Offset Record Hormuz Freight
Saudi Aramco is weighing a discount of around $9 a barrel on its official selling prices for crude loaded by ship-to-ship transfer off Oman, according to five sources cited by Reuters on September 28. The cargoes in question are for second-half October loading, and Aramco has declined to comment. The reason is not demand. It is freight. A standard very large crude carrier sailing from the Middle East Gulf to China earned $1,235,414 a day in the week assessed by the Baltic Exchange on September 28, and the Kingdom has decided that the way to win Asian barrels back is to absorb part of that bill itself.
Key Takeaways Saudi Aramco is discussing OSP discounts of about $9 a barrel on ship-to-ship…
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