Middle East Crude-Benchmarks mixed; Saudi, Qatar, Indonesia set OSPs

05 Aug, 2019

Saudi Arabia cut its September price for its Arab Light grade for Asian customers by $0.75 a barrel versus August to a premium of $1.70 per barrel to the Oman/Dubai average, state oil company Aramco said on Sunday.

The cuts were larger than expected, three traders said.

Qatar has set its July retroactive OSP for its Marine crude at $64.75 a barrel, up $1.30 a barrel from the previous month, according to a pricing document reviewed by Reuters on Monday.

That sets the OSP differential for Qatar Marine at $1.50 above Dubai quotes, down 19 cents from a month ago.

ASIA-PACITIC CRUDE: Indonesia has set the official Indonesia Crude Price (ICP) for Minas crude oil at $61.98 a barrel for July, up 14 cents from the previous month and the highest since May, a document from the Ministry of Energy & Mineral Resources showed on Monday.

The July Minas alpha, or price difference to dated Brent, was set at minus $2.06 per barrel, up 20 cents from a month ago, the document showed.

 

Copyright Reuters, 2019

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