Malaysia cuts June crude oil official selling prices

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SINGAPORE (July 2): Malaysia has cut the official selling price of a basket of June-loading Malaysian crude oil grades to US$78.23 a barrel, Petronas said in a document reviewed by Reuters on Monday.

* The June price for the basket of Malaysian crude oil, which includes Labuan, Miri Light, Kikeh and Kimanis Blend, fell by US$2.50 per barrel
* Petronas sets the benchmark based on spot differentials to dated Brent for the four grades

* The Malaysian crude benchmark mechanism was launched in January

2014 and updated to include the Kimanis crude grade starting January 2017

 Here are the OSPs for the Malaysian grades:

 LABUAN     78.23  80.73
 MIRI       78.23  80.73
 KIKEH      78.23  80.73
 KIMANIS    78.23  80.73
 TAPIS      76.83  79.33
 DULANG     77.83  80.33
 BINTULU    76.83  79.33