State-owned Qatar Petroleum has lowered the official selling prices for both Qatar Marine and Qatar Land crude cargoes loaded in August, a source close to the company said on Tuesday.
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QP has cut the OSPs for its crudes for the third consecutive month, S&P Global Platts data showed.
QP lowered the OSP for Qatar Land crude by $1.25/b from July to $74/b in August. This puts the August Qatar Land OSP at a premium of $1.51/b to the average of Platts front-month Dubai crude assessments, down 62 cents from the premium for July.
QP also cut the OSP for Qatar Marine by 65 cents/b from July to $72.90/b in August, the source said. This makes the August Qatar Marine OSP equivalent to a premium of 41 cents/b to the average of Platts front-month Dubai crude assessments, down 2 cents from the July premium.
Platts front-month Dubai crude assessments averaged $72.49/b in August.
Platts started assessing the crude on an OSP-related basis in November 2002.
Qatar Petroleum’s crude OSPs:
Grade Mar Apr May Jun Jul Aug Change
Qatar Land 65.25 70.80 77.05 76.15 75.25 74.00 -1.25
Qatar Marine 62.80 68.45 74.95 74.10 73.55 72.90 -0.65
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