Middle East crude benchmark spot premiums of Oman, Dubai and Murban rose on Wednesday, with Murban touching its highest in three weeks.
The market had been under pressure and posted continuous declines earlier this month because of ample supplies and a supply glut outlook for next year.
SINGAPORE CASH DEALS
Cash Dubai’s premium to swaps rose 11 cents to 72 cents a barrel.
BP will deliver a January-loading Dubai crude to Trafigura following the deals.
Reliance and Hengli will each deliver a January-loading Upper Zakum crude cargo to Trafigura following the deals.
Hengli will deliver a January-loading Upper Zakum crude to Trafigura following the deals.
NEWS
OPEC+ is likely to leave output levels unchanged at its meeting on Sunday while focusing talks on a theoretical topic of how much oil its members can produce so the group can decide future policies, three OPEC+ sources said.
The Iraqi government has arranged the payment of delayed salaries for local staff at the Lukoil-operated West Qurna-2 oilfield, to ensure production continues despite U.S. sanctions on the Russian company, three Iraqi energy officials said.
Hungary’s Foreign Minister Peter Szijjarto was travelling to Belgrade on Wednesday to discuss details of how Hungary will help Serbia after crude oil shipments from Croatia stopped, the minister said in a Facebook video.
Nigeria’s Dangote has signed a contract with Engineers India Ltd to help double its refining capacity to 1.4 million barrels per day (bpd) in three years, its head Aliko Dangote told a press conference in Mumbai on Wednesday.
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Source: Reuters
