SINGAPORE- Middle East crude benchmarks Oman and Dubai were mixed on Wednesday, as traders continued to wait for the release of official selling prices from producers.
Abu Dhabi National Oil Company (ADNOC) has set the August selling price (OSP) for its benchmark Murban crude at plus $1.75 per barrel to Platts Dubai, raising it by $0.75 from the previous month, it said on Wednesday.
Kuwait Petroleum Corp has sold a cargo of South Ratqa crude loading July 20-21 to a Korean buyer, a source said.
Chinese private refiner Hengyi has received 1 million barrels of Saudi Arab Medium crude for its refinery in Brunei via a spot purchase from Saudi Aramco, a source said.
The shipment, Nordic Sprinter, was discharged at the Muara port on June 3, the first time for Saudi oil to be exported to Brunei, Refinitiv Eikon shipping data showed.
NEWS
Abu Dhabi National Oil Company (ADNOC) plans to boost its oil exports in August, the first signal that OPEC and its allies are preparing to ease record oil output cuts next month, three sources familiar with the development told Reuters.
U.S. crude oil production is expected to fall by 600,000 barrels per day (bpd) in 2020 to 11.63 million bpd, the U.S. Energy Information Administration (EIA) said on Tuesday, a smaller decline than the 670,000 bpd it forecast previously.
Libya's National Oil Corporation (NOC) said on Wednesday that it was ready to lift force majeure at Es Sider oil port, allowing a tanker on standby to load crude from storage.
Iran has slashed crude oil production to its lowest level in four decades as storage tanks and vessels are almost completely full due to a fall in exports and refinery run cuts caused by the coronavirus pandemic, industry data showed.
Premiums for Mediterranean oil grades over dated Brent have eased in the past few days as European refiners turn to cheaper alternatives to Russian Urals and other crudes, traders said.
(Reporting By Shu Zhang; Editing by Rashmi Aich) ((shu.zhang@thomsonreuters.com; +65-6870-3549; Reuters Messaging: Twitter @shuzhang4))
