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Qatar ups Oct Marine crude OSP to $79.55/bbl -report

Land crude OSP for Oct rises by $5.60 to $80.80/bbl -report.


November 4, 2010 10:01 by

Qatar has raised its October retroactive official selling price (OSP) for Qatar Marine crude to $79.55 a barrel, up $5.40 from September, Qatar News Agency said.

The October price was set at a discount of 67 cents a barrel to the average price for the month of benchmark Dubai crude, narrower than a discount of 97 cents for September.

The Gulf Arab state also set its October Qatar Land crude OSP at $80.80, up $5.60 from September, according to the report.

That represents a 58 cents a barrel premium to Dubai crude, better than an 8 cents premium for September.

The differentials for October OSP rose on the back of strong premiums in spot December-loading cargoes last month.

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

(Reporting by Osamu Tsukimori; Editing by Edwina Gibbs)


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