Qatar keeps May crude supply to Asia steady
Qatar has notified at least one Asian buyer that it will supply Marine and Land crude at full contracted volumes for May, unchanged from April levels, a trade source said on Monday.
April 2, 2012 8:34 by kippreport
Qatar, one of OPEC’s smallest producers, has notified at least one Asian buyer that it will supply Marine and Land crude at full contracted volumes for May, unchanged from April levels, a trade source said on Monday.
The move was expected as Qatar has been supplying both grades to customers at full contracted volumes since 2009.
Qatar gave buyers the option of asking for cargoes to be 5 percent more or less than contracted volumes, the same as the previous month, the source added.
Oil refiners must decide whether to exercise the option to offset declines in Iranian crude imports due to U.S. pressure. The market is also paying attention to the monthly supply plan announcement for May by top supplier Saudi Arabia, which could come later this week.
(Reporting by Osamu Tsukimori; Editing by Joseph Radford)
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