Dubai Petroleum leaves September OSP unchanged at Oman minus $0.20/b

London, (Quantum Commodity Intelligence) – Dubai's Department of Petroleum Affairs has set the official selling price for Dubai crude loading in September largely within expectations at a discount of $0.20 per barrel to the average settlement of September Oman crude futures traded on the Dubai Mercantile Exchange in July 2021, when September is the front-line month.

The August Dubai crude OSP differential was also set at a discount of $0.20/b to the August DME Oman crude futures.

Dubai production is typically three to four cargoes of 500,000/b per month, but still plays an important role in the Dubai benchmark, which takes its nomenclature from the Dubai grade.

Dubai typically trades at a discount to Oman, which is reflected in the OSP discount to DME Oman.

Benchmark Dubai crude was assessed by Quantum Thursday at $73.70/b, up $0.30/b on the day.

The Dubai June monthly average to date is $71.19/b, compared to the May average of $66.32/b.