Oil & Gas Refining
Qatar reduces the October term price of al-Shaheen crude oil, according to sources
QatarEnergy lowered its term price for al-Shaheen oil loadings in October. It now stands at $2.52 per barrel, a dollar higher than the Dubai quotations, according to sources on Friday. This was a drop of 81 cents compared to the high of $3.33 per barrel in September for oil loading, which was a five-month-high. The price reduction followed a drop in spot premiums on Middle East crude this month. This was due to rising supply, as the Organization of the Petroleum Exporting Countries (OPEC+) and its allies continued their policy of increasing output to regain market share. Qatar sold al-Shaheen...