Petronas sets March crude price factor at US$5.40/bbl

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SINGAPORE (Feb 18): State oil firm Petronas has set the price factor for Malaysian Crude Oil (MCO) for March at US$5.40 per barrel, unchanged from the previous month, the company said on Monday.

The monthly price factor is added to the average of Platts' dated Brent prices to derive the Malaysian crude's 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.