Qatar lower its June crude oil official selling prices to Asia
Petroleumworld 08 07 2018
Qatar has set its June retroactive official selling price (OSP) for its Marine crude at $74.10 a barrel, down from $74.95 a barrel from the previous month, state news agency QNA reported.
That sets the OSP differential for Qatar Marine at 51 cents a barrel above Dubai quotes, 3 cents lower than a month ago.
Qatar also set its June Qatar Land crude OSP at $76.15 a barrel, down from $77.05 from the previous month.
Traders had expected sharper drops in the OSP's premiums to Dubai for both grades based on weak demand in Asia last month.
The smaller-than-expected price adjustments are likely to keep Qatari spot cargoes trading at discounts for a second straight month, traders said.
The following table shows the latest OSPs and their differentials to Dubai in brackets.
June May Change Qatar Marine $74.10 (+$0.51) $74.95 (+$0.54) -$0.85 (-$0.03) Qatar Land $76.15 (+$2.56) $77.05 (+$2.64) -$0.90 (-$0.08)
Story by Dhalia Nehme; Aditional reporting Florence Tan; editing by Louise Heavens from Reuters.
reuters.com 08 06 2018
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