Malaysia's Petronas sets March crude price factor at US$4.20/bbl

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SINGAPORE (March 15): State oil firm Petronas on Wednesday said it had set the price factor for Malaysian Crude Oil (MCO) for March at US$4.20 per barrel, unchanged from the previous month.

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