According to Reuters, the official selling price for Qatar’s onshore crude in June was set at $ 5.15 a barrel below the average for Oman and Dubai crude, up $ 2.15 a barrel from the previous month. < / p>
On the other hand, two sources familiar with the agency said that the Kuwait Petroleum Corporation told customers that they would carry less quantities of crude oil in June if it determined the operational permitting rate at (- 5%) for all grades of ore.
This amendment was the latest measure by the Kuwait Petroleum Corporation to fulfill the country's pledges to reduce production within the framework of the agreement of the Organization of Petroleum Exporting Countries (OPEC) and allies, including Russia, in what is known as the group ( OPEC +).
The operational permitting of a clause in long-term oil contracts gives the seller the option of slightly adjusting the volumes of the loading for logistical or demand-related reasons. The Foundation has set a tolerance rate of (+ 5%) or (-5%).
According to the sources, the foundation said in a note dated May 12 that the option to allow the increase would not be available to buyers anymore and this would be applied immediately.
The note continued that the percentage of permission to (-5%) will be applied to all shipments intended for download in June.
