February 5, 2018 / 7:05 AM / 2 months ago

CORRECTED-Malaysian Jan crude price rises to three-year high

 (Corrects Tapis and Bintulu prices in table from story
published on Feb 5)
    SINGAPORE, Feb 5 (Reuters) - The official selling price
(OSP) of a basket of January-loading Malaysian crude oil grades
 has been set at $73.53 a barrel, the highest since
January 2015, Reuters calculations showed on Thursday.
    The January price for flagship Labuan rose $4.99 per barrel
from the previous month.
    Petronas           sets the OSP benchmark based on the spot
differentials to dated Brent for the four grades - Labuan, Miri,
Kikeh and Kimanis.
    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: 
    
PETRONAS 2017-2018 TERM PRICES (INCLUDES "P" ADJUSTMENT)
           JAN     DEC    NOV
 LABUAN    73.53   68.54  67.12
 MIRI      73.53   68.54  67.12
 KIKEH     73.53   68.54  67.12
 KIMANIS   73.53   68.54  67.12
 TAPIS     72.13   66.94  65.52
 DULANG    73.13   68.14  66.72
 BINTULU   72.13   66.94  65.52
       

 (Reporting by Jessica Jaganathan and Florence Tan
Editing by Sunil Nair)
  
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