Petronas sets Feb crude price factor at US$4.20/bbl — sources

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SINGAPORE (Feb 13): Malaysian state oil firm Petronas set the price factor for Malaysian Crude Oil (MCO) for February at US$4.20 per barrel, down 15 cents from the previous month, two sources with knowledge of the matter said on Tuesday.

The monthly price factor is added to the average of Platts' dated Brent prices published for 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.