Report: Qatar's Oct-loading al-Shaheen Crude Term Price Set at 2-month Low

August 18, 2021

Al Shaheen oil field /Credit: NOC
Al Shaheen oil field /Credit: NOC

Qatar Petroleum (QP) has set the term price for al-Shaheen crude cargoes loading in October at $2.62 a barrel above Dubai quotes, the lowest premium in two months, several trade sources said on Wednesday.

The price was set after QP sold three cargoes via a tender at premiums ranging from $2 to $2.68 a barrel, or $2.30 on average, some of the sources said.

A U.S. oil major bought one of the cargoes, according to the sources. The cargoes are to load on Oct. 2-3, Oct. 27-30 and Oct. 1-31.

Last month, QP set the term premium for September-loading cargoes at $2.87 a barrel after selling three cargoes at $2.40 to $2.90 a barrel above Dubai quotes. 

(Reporting by Florence Tan; Editing by Christian Schmollinger and Shounak Dasgupta)




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