July 3 (Bloomberg) -- Qatar Petroleum will supply full contracted volumes of crude oil to term customers in Asia in August, rolling back a 15 percent cut imposed in July on one of its grades, refinery officials said.

The state-owned company last month pledged full volumes of its Qatar Land grade for July, but cut Qatar Marine shipments by 15%, traders at two refiners who hold one-year contracts said today. They asked to remain unidentified because of confidentiality agreements with the supplier.

Calls to Qatar Petroleum’s office in Doha weren’t answered as Friday isn’t a business day.

Qatar, the second-smallest producer in the Organization of Petroleum Exporting Countries, pumped 695,000 barrels a day last month, below its quota of 731,000 barrels a day and capacity of 900,000 barrels a day, according to a Bloomberg survey of analysts and producers.

OPEC, which pumps 40 percent of the world’s crude oil, “will not go for any further increase in production” as global supplies remained in surplus, Kuwait’s Oil Minister Sheikh Ahmed al-Abdullah al-Sabah said yesterday. The group, which counts six Middle East countries among its 12 members, is scheduled to discuss policy September 9 in Vienna.

To contact the reporter on this story: Yee Kai Pin in Singapore at kyee13@bloomberg.net; Christian Schmollinger in Singapore at christian.s@bloomberg.net

Last Updated: July 3, 2009 03:19 EDT