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Qatar raises April Land, Marine OSPs by $4.25-$4.35/b from March

State-owned Qatar Petroleum has raised the official selling prices of both Qatar Land and Qatar Marine crude cargoes loaded in April, crude traders told S&P Global Platts Friday morning.

The April Qatar Land OSP has been set at $71.95/b, while the April Qatar Marine OSP has been set at $71.80/b, up $4.35/b and $4.25/b respectively, from March.

The spread between Qatar Land and Marine, which reached its narrowest point on record at 5 cents/b apart last month, widened to 15 cents/b with the April OSPs.

The April Qatar Land OSP is equivalent to a premium of $1/b to the average of Platts front-month Dubai crude assessments in April, up 33 cents/b from a premium of 67 cents/b for March. The hike has pushed the Qatar Land/Dubai differential back at $1/b levels, which it was last at for the December 2018 OSP at a premium of $1.13/b, according to Platts records.

Meanwhile, the April Qatar Marine OSP differential to Dubai saw a relatively smaller jump of 23 cents/b over March to a premium of 85 cents/b to the average of Platts front-month Dubai crude assessments in April.

This is the highest premium for the Qatar Marine OSP since December 2017, when it was set at $62.65/b, making its premium to Dubai $1.05/b, Platts data showed.

Platts front-month Dubai crude assessments averaged $70.95/b in April, up $4.02/b from March.
Source: Platts

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