Qatar ... staying in the competition
Qatar cuts January crude OSP to lowest in at least 12 years
SINGAPORE, February 4, 2016
Qatar has cut its January retroactive official selling price (OSP) for crude sales to Asia to the lowest in at least twelve years, in line with a fall in global prices.
The producer set the January OSP for Marine crude at $25.20 a barrel, down $7.35 a barrel from the previous month, the Qatar News Agency said.
The Gulf Arab state also set its January Qatar Land crude OSP at $28.85, down $7.30 from the previous month, the state news agency said.
Still, the cuts mean that both grades rose relative to the Dubai benchmark published by pricing agency Platts for January.
Marine crude's OSP differential to Dubai rose by 43 cents from a month ago to a discount of $1.51 a barrel to Dubai quotes, in line with Abu Dhabi's Upper Zakum crude, while that for Qatar Land was 48 cents a barrel higher at a premium of $2.04 to Dubai. -- Reuters
