QatarEnergy reduced the August term price of al-Shaheen oil to a premium $1.21 per barrel over Dubai quotes, according to trade sources on Friday. This is down from $1.82 per barrel in July.

QatarEnergy had sold three cargoes through a tender. Traders confirmed that the term price was determined after QatarEnergy.

Aramco Trading won the first cargo for $1.25 per barrel over Dubai's quotes, while the second cargo was sold to P66 with a premium 90 cents per barrel. The traders reported that a Chinese major purchased the third cargo for a premium between 80-90 cents per barrel.

They added that QatarEnergy also sold a Qatar Land cargo load in August to Shell for a discount 20 cents over Dubai's quotes.