Middle East Economic Survey
Kuwait To Adopt ASCI As Benchmark For US Crude Sales
MEES understands that Kuwait will switch to the Argus Sour Crude Index (ASCI) as a benchmark for pricing sales of its crude oil to the US market, in line with a decision to do so by Saudi Aramco in November (MEES, 2 November). Sources said timing of the implementation of the move would be very soon. Saudi Aramco made the switch to ASCI as of January 2010 for its US crude deliveries...