Saudi Aramco lowers LPG OSPs $55-65/mt: report

London, (Quantum Commodity Intelligence) – Oil producer Saudi Aramco has lowered its official monthly selling price of liquefied gas (LPG) for the second successive month on weak demand.

The world's biggest oil producer set the price for May propane at $495/mt, down $65/mt and May butane at $475/mt, down $55/mt on the previous month's OSP, according to price reporting agency S&P Global Platts, citing anonymous sources.

The CP is down around 20% on March's level, more or less tracking a 17% fall in the spot price for propane delivered into Northwest Europe, according to Quantum data.