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Qatar cuts July crude oil official selling prices to Asia

Qatar has set the July retroactive official selling price (OSP) for its Marine crude at $73.55 per barrel, down from $74.10 a barrel for the previous month, a document issued by the company and reviewed by Reuters showed on Monday.

That sets the OSP differential for Qatar Marine at 43 cents a barrel above Dubai quotes, 8 cents lower than a month ago. Qatar also set its July Qatar Land crude OSP at $75.25 a barrel, down from $76.15 for the previous month.

The price cut was lower than traders’ expectations, an industry source said. “The market traded in teens discount, so it was a little less than expected,” the source added. Qatar Marine cargoes for loading in September last traded at a discount of about 10 to 15 cents a barrel to its official selling price, traders have said.

The following table shows the latest OSPs and their differentials to Dubai in brackets.

               July             June             Change
 Qatar Marine  $73.55 (+$0.43)  $74.10 (+$0.51)  -$0.55 (-$0.08)
 Qatar Land    $75.25 (+$2.13)  $76.15 (+$2.56)  -$0.90 (-$0.43)

Source: Reuters (Reporting by Jessica Jaganathan; Editing by Christian Schmollinger and Gopakumar Warrier)

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