SINGAPORE: State oil firm Petronas has set the price factor for Malaysian Crude Oil (MCO) for June at an all-time low of minus $4.20 per barrel, down $6.40 from the previous month, the company said late on Friday
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 effective January 2017, basing its benchmark price on a basket of four Malaysian crude grades Labuan, Miri Light, Kikeh and Kimanis - Reuters
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