Malaysia lowers Aug crude oil official selling price

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SINGAPORE (Sept 3): Malaysia has lowered the official selling price (OSP) of a basket of August-loading Malaysian crude oil grades to US$76.37 a barrel, Petronas said in a document reviewed by Reuters on Monday

* The August price for the basket of Malaysian crude oil, which includes Labuan, Miri Light, Kikeh and Kimanis Blend, fell by US$1.83 a barrel from the previous month

* 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:

CRUDE       AUGUST   JULY
LABUAN        76.37   78.20
MIRI          76.37   78.20
KIKEH         76.37   78.20
KIMANIS       76.37   78.20
TAPIS         74.97   76.80
DULANG        75.97   77.80
BINTULU       74.97   76.80

(prices are in US dollars per barrel)