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Qatar cuts July Marine OSP to $71.25/bbl, down $1.50

August 6, 2010 9:00 by Reuters

Qatar has lowered its July retroactive official selling price (OSP) for its Marine crude to $71.25 a barrel, down $1.50 from June, a trader said on Friday.

The July price was set at a discount of $1.24 to the average price for the month of benchmark Dubai crude, unchanged from June.

The Gulf Arab state also set the July Qatar Land crude OSP at $72.35, down $1.65 from June, the trader said. That represents a 14-cents discount to Dubai crude, down from a 1-cent premium in June.

Qatar is one of OPEC’s smallest members, pumping around 800,000 barrels per day.

(Reporting by Osamu Tsukimori)

Tags: July price Qatar marine crude, marine crude, Qatar July retroactive official selling price, Qatar marine crude