Middle East crude benchmark spot premiums of Oman, Dubai and Murban declined on Tuesday for a third consecutive day.
SINGAPORE CASH DEALS
Cash Dubai’s premium to swaps fell 18 cents to $0.47 a barrel.
PetroChina and Hengli will each deliver a December-loading Upper Zakum crude cargo to Mitsui following the deals.
NEWS
India’s Russian oil imports in September declined 14.2% from a year ago to 1.62 million barrels per day, accounting for about a third of overall purchases, data obtained from trade sources showed.
World oil supply will rise more rapidly than previously expected this year and a surplus could expand in 2026 as OPEC+ members and other producers lift output and demand remains sluggish, the International Energy Agency predicted on Tuesday.
Oil production from producers outside of the Organisation of Petroleum Exporting Countries will start to decline if oil prices fall to $60 per barrel, TotalEnergies CEO Patrick Pouyanne said on Tuesday.
Source: Reuters
