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Petronas sets Oct crude price factor at $3.95/bbl, highest in 7 mths

Kitco News

(For OSP list, click )

SINGAPORE, Oct 5 (Reuters) - Petronas has set the price factor for Malaysian Crude Oil (MCO) for October at $3.95 per barrel, up $0.60 from the previous month, the Malaysian state oil firm said on Thursday.

The October price factor is the highest since March.

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 from January 2017, basing its benchmark price on a basket of four Malaysian crude grades Labuan, Miri Light, Kikeh and Kimanis.

(Reporting by Florence Tan; Editing by Joseph Radford)

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