Petronas Raises April Crude Price Factor
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Malaysian state oil firm Petronas has set the price factor for Malaysian Crude Oil (MCO) for April at $5.50 per barrel, up 10 cents from the previous month, the company said on Tuesday
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.
(Reporting by Jessica Jaganathan, Editing by Sherry Jacob-Phillips)
