Qatar has set its June retroactive official selling price (OSP) for its Marine crude at $74.10 a barrel, down from $74.95 a barrel from the previous month, state news agency QNA reported. That sets the OSP differential for Qatar Marine at 51 cents a barrel above Dubai quotes, 3 cents lower than a month ago.
Qatar also set its June Qatar Land crude OSP at $76.15 a barrel, down from $77.05 from the previous month. Traders had expected sharper drops in the OSP's premiums to Dubai for both grades based on weak demand in Asia last month. The smaller-than-expected price adjustments are likely to keep Qatari spot cargoes trading at discounts for a second straight month, traders said.