Qatar Land crude is trading at $94.28 a barrel and Al Shaheen at $91.76, with the country’s flagship condensate grades — D.F. and L.S. — both at $89.28, leaving the Qatar oil price picture split over the past month: the two crude grades are down 6.0% and 6.4% from early September while condensate is up 6.3%. Qatar Land and Al Shaheen moved against the broader Gulf trend, with Murban up 7.3%, Dubai up 15.2% and Brent up 6.2% over the same period, although both crudes rebounded sharply in the latest session.
Qatar Oil Price Today
| Grade | Price (USD/bbl) | Change (Month) | Updated |
|---|---|---|---|
| Qatar Land | $94.28 | -6.04 (-6.02%) | 2-day delay |
| Al Shaheen | $91.76 | -6.31 (-6.43%) | 2-day delay |
| D.F. Condensate | $89.28 | +5.31 (+6.32%) | 2-day delay |
| L.S. Condensate | $89.28 | +5.31 (+6.32%) | 2-day delay |
Prices sourced from OilPrice.com, 4 October 2026. Month-on-month changes compare with the 6 September 2026 update. In the latest session Qatar Land rose $5.99 (+6.78%), Al Shaheen $7.77 (+9.25%) and both condensate grades $4.49 (+5.30%).
What Is Driving Qatar Oil Prices
Qatar Land and Al Shaheen track closely with the wider Dubai and Murban benchmarks that anchor Gulf crude pricing, with QatarEnergy managing offshore output from fields including Idd El Shargi, Maydan Mahzam and Bul Hanine through the Halul Island export terminal.
Demand for Qatari grades remains underpinned by long-term Asian refining contracts, with Japanese, South Korean and Chinese buyers forming the core offtake base for both crude and condensate volumes.
Qatari crude did not follow the wider Gulf market higher this month: Murban, Dubai and DME Oman rose between 7% and 15% while Qatar Land and Al Shaheen fell about 6%, before the sharp rebound in the latest session. The quotes carry a two-day delay, so the monthly decline may narrow as later prices are published.
As of early September, Washington and Tehran continued to give conflicting accounts of Strait of Hormuz control: US officials claimed daily convoys of 30-40 escorted ships, while independent ship-tracking data from Kpler and Lloyd’s List put actual transits at roughly 12-13 vessels a day, a fraction of the pre-war baseline.
Iran’s IRGC had reported tankers disabled by mines on routes it calls illegal, and Saudi Arabia had separately accused Iran of an attack that killed two crew aboard one of its tankers. Qatar continued its role as a Gulf mediator in US-Iran talks, but the physical risk premium had not eased alongside the diplomacy, and Gulf benchmarks rose again this month. For broader Gulf market context, see the U.S. Energy Information Administration.
Qatar Oil Price and Storage Economics
When Qatari crude and condensate move into contango — future prices trading above spot — traders have an incentive to hold barrels in tank storage and sell forward, lifting demand for ullage across Gulf terminals. In backwardation, the structure that has generally held since the conflict began, front-month prices stay elevated relative to future deliveries and the incentive reverses, with operators seeing tanks draw down as barrels move to market immediately. That backdrop has not been reported to shift this month; Gulf benchmark gains reflect an actively hazardous standoff rather than a confirmed reopening of the Strait.
Qatar’s largest storage infrastructure sits across three hubs. Ras Laffan Industrial City is the country’s LNG and condensate export centre.
Qatar’s LNG terminal network is anchored by Ras Laffan’s train capacity, while Halul Island is the dedicated crude export gateway 80km northeast of Doha with roughly 5 million barrels of tank capacity across 11 tanks.
Recent QatarEnergy Ras Laffan operational disruptions have highlighted how tightly storage capacity and export scheduling are linked at these facilities.
Qatar Oil Price by Region
| Grade/Benchmark | Region | Price (USD/bbl) |
|---|---|---|
| Qatar Land | Middle East (Qatar) | $94.28 |
| Al Shaheen | Middle East (Qatar) | $91.76 |
| Dubai | Middle East (benchmark) | $113.71 |
| DME Oman | Middle East (Oman) | $110.88 |
| Murban Crude | Middle East (UAE) | $110.82 |
Qatar’s crude grades now sit well below neighbouring Gulf benchmarks: Qatar Land is $19.43 under Dubai and $16.54 under Murban, whereas a month ago it traded $1.60 above Dubai. Benchmark detail sits on OGSN’s Middle East oil price page.
Qatar Oil Price in Different Currencies
| Currency | Price | Per Unit | Exchange Rate Used |
|---|---|---|---|
| USD | $94.28 | per barrel | — |
| EUR | €83.74 | per barrel | 0.88821 |
| GBP | £71.19 | per barrel | 0.75514 |
| JPY | ¥14,883.04 | per barrel | 157.86 |
| CNY | ¥632.27 | per barrel | 6.7063 |
| INR | ₹9,072.75 | per barrel | 96.232 |
Exchange rates are mid-market rates as at 4 October 2026. Figures rounded to two decimal places.
Qatar Oil Price Per Unit
| Unit | Price | Notes |
|---|---|---|
| Per barrel | $94.28 | Benchmark unit (Qatar Land) |
| Per litre | $0.593 | 1 bbl = 158.99 litres |
| Per US gallon | $2.245 | 1 bbl = 42 US gallons |
| Per metric tonne | ~$691.07 | Using ~7.33 bbl/tonne conversion for light Gulf crude |
| Per cubic metre | $592.96 | 1 bbl = 0.159 m³ |
What is the current Qatar oil price?
Qatar’s flagship crude grades — Qatar Land and Al Shaheen — trade daily on global benchmarks alongside condensate grades D.F. and L.S. Condensate. This page is updated monthly with the latest available benchmark data. For real-time prices, refer to ICE or CME Group directly.
What is driving Qatar oil prices?
Qatar oil prices track broader Gulf benchmark movements including Dubai, Oman and Murban crude, shaped by OPEC+ policy, Asian refining demand, and shipping conditions through the Strait of Hormuz. Regional geopolitical stability is a persistent structural driver given Qatar’s reliance on maritime export routes.
What is the difference between Qatar Land and Al Shaheen crude?
Qatar Land is produced from onshore and shallow offshore fields and is a medium-sour grade, while Al Shaheen is a heavier offshore grade produced from Qatar’s largest offshore oil field. Both are exported primarily through Halul Island.
What is the difference between crude oil and condensate at Qatar’s terminals?
Crude oil grades like Qatar Land and Al Shaheen are exported through Halul Island, while ultra-light condensate grades (D.F. and L.S.) are handled separately through Ras Laffan’s dedicated condensate storage and export infrastructure.
How does Qatar oil price affect tank terminal storage demand?
When Qatari benchmarks move into contango – where future prices exceed spot prices — storing product becomes commercially attractive, driving demand for tank terminal capacity at Halul Island and Ras Laffan. In backwardation, immediate delivery commands a premium and storage incentive falls.
What is the Qatar oil price in different currencies?
Qatar oil is benchmarked in US dollars globally, but terminal operators and buyers across Europe, the Middle East, and Asia transact in local currencies. This page includes a currency conversion table covering EUR, GBP, JPY, AED, CNY, and INR, updated monthly from mid-market exchange rates.
How current is the price data on this page?
Price data on this page is updated monthly. Figures reflect the most recent available benchmark data from OilPrice.com and major exchange sources. For real-time tick data, refer directly to CME Group or ICE.