Singapore, Jan. 3 -- Dubai crude, as quoted by price-reporting agency S&P Global Platts, averaged $57.318 a barrel for December, the lowest since October 2017, two traders who participate in the market said on Wednesday.

Middle East producers set their monthly official selling prices (OSPs) based on these averages.Saudi Aramcochanged the benchmark for setting its official selling prices to Asia tarting from October to the average of PlattsDubaiand DMEOmancrude futures According to reports published ineconomictimes.indiatimes.com.

The average reference price for December-loading Saudi crude OSPs to Asia is set at $57.324 a barrel based partly on a DME average in December of $57.33.

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