Malaysia's Petronas sets December crude price factor at US$4.80/barrel

[KUALA LUMPUR] State oil firm Petronas has set the price factor for Malaysian Crude Oil (MCO) for December at US$4.80 per barrel, down 90 US cents from the previous month, a source with direct knowledge of the matter said on Thursday.

Petronas introduced a new official selling price (OSP) for its crude based on a basket of Malaysian crude oil grades Labuan, Miri Light and Kikeh with effect from January.

REUTERS