The new QatarEnergy logo is pictured during a news conference in Doha, Qatar, October 11, 2021.
The adjustment aligns with rising Middle East crude benchmarks, including Dubai and Oman, driven by increased buying interest following a recent decline in oil prices. QatarEnergy sold two cargoes to Vitol at premiums of $1.68 to $1.75 per barrel above Dubai quotes, one cargo to ExxonMobil at $1.71 per barrel, and one to Trafigura at approximately $1.70 per barrel. These cargoes are scheduled to load on June 1-2, 14-15, 26-27, and 27-28.
In addition, QatarEnergy sold a Qatar Land crude cargo to Shell and a Qatar Marine crude cargo to Unipec, the sources reported. The companies involved typically refrain from commenting on their commercial transactions.
The price increase reflects stronger demand and market dynamics in the global oil trade, particularly in the Middle East, where al-Shaheen crude remains a key benchmark. QatarEnergy’s strategic sales to major traders and oil companies demonstrate its active role in meeting market needs while optimizing pricing for its crude oil grades.
This development highlights QatarEnergy’s responsiveness to evolving market conditions, ensuring competitive pricing and efficient allocation of its crude oil resources. The transactions underscore the ongoing collaboration between QatarEnergy and leading global energy firms, supporting the stability and liquidity of the international oil market.
