September 4, 2018 / 5:52 AM / 3 months ago

Qatar cuts August crude oil prices to Asia

SINGAPORE (Reuters) - Qatar has set the August retroactive official selling price (OSP) for its Marine crude at $72.90 per barrel, down from $73.55 a barrel for the previous month, a document issued by the company and reviewed by Reuters late on Monday showed.

That set the August OSP differential for Qatar Marine at 41 cents a barrel above Dubai quotes, 2 cents lower than a month ago.

Qatar also set its August Qatar Land crude OSP at $74.00 a barrel, down from $75.25 for the previous month.

That put August Qatar Land crude OSP’s differential at $1.51 above Dubai quotes, down 62 cents.

A trader said the price adjustment for Qatar Marine was in line with market expectations but that for Qatar Land could have been lower as the light grade traded at discounts of up to 75 cents a barrel last month.

Reporting by Florence Tan; Editing by Subhranshu Sahu

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