Middle East Crude-Benchmarks fall on potential further OPEC+ supply boost

Reuters
05-22
Middle East Crude-Benchmarks fall on potential further OPEC+ supply boost

SINGAPORE, May 22 (Reuters) - Middle East crude benchmark spot premiums of Oman, Dubai and Murban fell on Thursday after a report that OPEC+ is discussing a production increase for July.

The Organization of the Petroleum Exporting Countries and its allies, known collectively as OPEC+, are discussing whether to make another large output increase at their meeting on June 1, Bloomberg News reported.

Indonesia's Pertamina issued tenders to buy a total of 900,000 barrels July and August-delivery crude and condensate for its Cilacap refinery; the tender is valid till May 23, trade sources said.

SINGAPORE CASH DEALS

Cash Dubai's premium to swaps fell 25 cents to $1.21 a barrel.

Reliance and Gunvor will each deliver a July-loading Upper Zakum crude cargo to PetroChina following the deals.

P66 will deliver a July-loading Murban crude cargo to PetroChina following the deals.

BP will deliver a July-loading Oman crude cargo to Mitsui following the deals.

Vitol will deliver a July-loading Oman crude cargo to PetroChina following the deals.

SELLER-BUYER

PRICE ($/BBL)

VITOL-PETROCHINA

63.70

VITOL-TRAFIGURA

63.75

VITOL-PETROCHINA

63.70

EXXONMOBIL-PETROCHINA

63.70

PHILLIPS 66-PETROCHINA

63.70

VITOL-TRAFIGURA

63.75

PHILLIPS 66-TRAFIGURA

63.73

VITOL-PETROCHINA

63.72

RELIANCE-PETROCHINA

63.72

VITOL-PETROCHINA

63.72

VITOL-PETROCHINA

63.72

TOTAL-TRAFIGURA

63.73

PHILLIPS 66-PETROCHINA

63.72

GUNVOR-PETROCHINA

63.72

VITOL-MITSUI

63.70

VITOL-PETROCHINA

63.72

VITOL-PETROCHINA

63.72

RELIANCE-PETROCHINA

63.72

VITOL-TRAFIGURA

63.72

RELIANCE-PETROCHINA

63.72

VITOL-PETROCHINA

63.72

TOTAL-PETROCHINA

63.72

VITOL-PETROCHINA

63.72

EXXONMOBIL-PETROCHINA

63.72

RELIANCE-MITSUI

63.70

TOTAL-PETROCHINA

63.72

VITOL-PETROCHINA

63.72

RELIANCE-PETROCHINA

63.72

RELIANCE-PHILLIPS 66

63.70

VITOL-PETROCHINA

63.72

EXXONMOBIL-PETROCHINA

63.72

TOTAL-PETROCHINA

63.72

VITOL-PETROCHINA

63.72

BP-MITSUI

63.80

EXXONMOBIL-PETROCHINA

63.72

TOTAL-PETROCHINA

63.72

VITOL-PETROCHINA

63.72

TOTAL-PETROCHINA

63.72

RELIANCE-PETROCHINA

63.72

EXXONMOBIL-PETROCHINA

63.72

VITOL-PETROCHINA

63.72

TOTAL-PETROCHINA

63.72

VITOL-PETROCHINA

63.72

VITOL-PETROCHINA

63.72

VITOL-PETROCHINA

63.72

VITOL-PETROCHINA

63.72

PRICES ($/BBL)

CURRENT

PREV SESSION

GME OMAN

63.68

66.05

GME OMAN DIFF TO DUBAI

1.17

1.46

CASH DUBAI

63.72

66.05

NEWS

Poland's military intervened after a ship from the Russian "shadow fleet" was seen performing suspicious manoeuvres near a power cable connecting Poland with Sweden, Poland's prime minister said on Wednesday.

U.S. crude andfuel inventories posted surprise stock builds last week, the Energy Information Administration said on Wednesday, as crude imports hit a six-week high and gasoline, distillate demand slipped.

Phillips 66 PSX.N and activist investor Elliott Investment Management each won two seats on the oil refiner's board at an annual shareholders meeting on Wednesday, capping one of the biggest corporate boardroom battles of the year.

Polish energy group Orlen PKN.WA posted a 54% rise in first-quarter net profit on Thursday, as strong upstream performance helped offset lower sales and refining margins.

For crude prices, oil product cracks and refining margins, please click on the RICs below.

Brent

BRENTSGMc1

Dubai

DUBSGSWMc2

GME Oman

OQc1

Brent/Dubai EFS

DUB-EFS-1M

PRODUCT CRACKS

Fuel oil crack

FO180SGCKMc1

Gasoil crack

GO10SGCKMc1

Naphtha crack

NAF-SIN-CRK

Gasoline crack

GL92-SIN-CRK

Complex refining margins

REF/MARGIN1

(Reporting by Siyi Liu in Singapore; Editing by Shailesh Kuber)

((siyi.liu@thomsonreuters.com;))

RECENT CRUDE OIL TRADES:
Asia ACRU/T  Europe CRU/T Americas CRU/TU
      
CRUDE OIL MARKET NEWS      
Crude oil tenders in Asia                       CRU/TENDA
Crude oil supply outages in Asia                CRU/OUT-ASIA-O      
Refinery outages in Asia                        REF/OUT-ASIA-O      
Global arbitrage news and flows                 O/CRUDEARB      
W.African crude imports to Asia,  monthly       O/WAFRICA1      
REFINERY MAINTENANCE DIARIES      
Asia REF/A   Middle East REF/ME   Europe REF/E      
                       
NATIONAL CRUDE IMPORT DATA      
Japan     METI/JP1   China   O/CHINA1      
India     O/INDIA2   S.Korea O/KOREA1      
Indonesia O/INDO1-CRU         
                       
CRUDE OIL INVENTORY DATA      
Japan O/JAPAN1  US EIA/S  Europe O/EUROIL1      
                    
CRUDE OIL PRODUCTION/OILFIELD NEWS      
OPEC output survey OPEC/O          New Africa fields    AFR/NEW 
New projects       ENERGY/NEW      New Americas  fields AM/NEW
CRUDE OIL MARKET REPORTS      
Middle East             CRU/MAsia-Pacific         CRU/AP      
West Africa             CRU/WAF  North Sea            CRU/E      
Asia outlook            ASIA/CRU Europe outlook       EUR/CRU      
Global futures report   O/R      Technicals report    O/I      
                            
PRICES      
For all Official Selling  Prices       OSP/O      
For a POLL on oil  prices              O/POLL      
NYMEX and ICE oil  futures             OILOIL      
TOCOM crude oil  futures               0#JCO:      
Dubai, Oman swaps and  spread          ASIA/SWAP/CRUDE      
Middle East physical crude diffs       CRUDE/ASIA2      
Australia physical crude, Tapis swaps  CRUDE/ASIA1      
Asia-Pacific physical crude            CRUDE/ASIA3      
All Asian crude oil  differentials     0#C-DIF-A
All Asian crude oil outright  prices   0#C-A

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