SINGAPORE- Middle East crude benchmarks Oman and Dubai ticked lower on Thursday.
Total offered an August-loading Murban cargo at a premium of 20 cents above its official selling price but did not attract any buyers.
Qatar Petroleum has set the July official selling prices (OSP) for its Qatar Marine and Qatar Land crude at 75 cents a barrel above the average of Platts Oman and Dubai quotes, up from the previous month.
Kuwait has set the July Kuwait Export Crude (KEC) price at the average of DME Oman and Platts Dubai quotes, up $6 from the previous month.
Iran has set the official selling price (OSP) of its Iranian Light crude for Asian buyers at 30 cents above the Oman and Dubai average for July, up $5.20 a barrel from the previous month.
NEWS
India's fuel demand rose by nearly 50% in May from the previous month as the country eased coronavirus-led restrictions, Oil Ministry data showed on Wednesday, signalling a slow revival of economic activity.
U.S. crude oil stockpiles rose unexpectedly last week to an all-time high as refiners boosted imports, particularly from Saudi Arabia, while exports dropped to lows not seen since November.
Nigeria did not fully comply with a pact by oil producers to rein in output to balance markets but will make additional cuts to make up for the lapse by mid-July, the head of the Nigerian National Petroleum Corporation Mele Kyari said on Wednesday.
Trafigura recorded its highest first half net profit since 2016, despite $580 million in impairments, as its oil and metals trading divisions thrived in the extreme volatility caused by Middle East events and COVID-19, the company said on Thursday.
Papua New Guinea has passed legislation seeking to boost benefits to the country from oil, gas and mine developments, which could impact talks on a stalled project planned by Exxon Mobil Corp.
(Reporting By Shu Zhang; Editing by Aditya Soni) ((shu.zhang@thomsonreuters.com; +65-6870-3549; Reuters Messaging: Twitter @shuzhang4))
