Middle East Crude-Oman climbs on China recovery hopes; Saudi hikes OSPs

SINGAPORE, Feb 6 (Reuters) - Middle East crude benchmark Oman advanced on Monday on expectations that oil consumption from the world's top oil importer, China, would see a strong rebound. Oil producers may have to reconsider their output policies following a demand recovery in China, the world's second-largest oil consumer, the International Energy Agency's executive director, Fatih Birol, said on Sunday. Birol expects about half of the growth in global oil demand this year to come from China. However, the Saudi energy minister said on Saturday he remains cautious on any increase in production. OSP Saudi Arabia, the world's top oil exporter, raised prices for its flagship crude for Asian buyers for the first time in six months amid an expectation of oil demand recovery, especially from China. The official selling price (OSP) for March-loading Arab Light to Asia was raised by 20 cents a barrel from February to $2.00 a barrel over Oman/Dubai quotes, people familiar with the matter said, beating the previous market forecast of a 30 cent cut. MEDITERRANEAN OIL

There is no damage to the Kerkuk-Ceyhan pipeline carrying oil from Iraq to Turkey, or to the Baku-Tbilisi-Ceyhan pipeline, and oil flows are continuing on both after a major earthquake hit Turkey, an energy official told Reuters on Monday. However, operations at the Ceyhan oil terminal in southern Turkey were suspended, the Tribeca shipping agency said, adding that an emergency meeting was being held on the issue. SINGAPORE CASH DEALS Cash Dubai's premium to swaps rose 15 cents to $1.92 a barrel. Seller-Buyer Price VITOL-MERCURIA 78.30 PHILLIPS 66-TRAFIGURA 78.30 TOTAL-PETROCHINA 78.30 KOCH-MERCURIA 78.30 TOTAL-TRAFIGURA 78.30 TOTAL-MERCURIA 78.30 KOCH-PETROCHINA 78.30 TOTAL-SHELL 78.20 VITOL-TRAFIGURA 78.30 PHILLIPS 66-PETROCHINA 78.30 BP-PETROCHINA 78.35 KOCH-MERCURIA 78.25 RELIANCE-MERCURIA 78.30 VITOL-PETROCHINA 78.35 BP-MERCURIA 78.35 HENGLI-MERCURIA 78.20

PRICES ($/BBL) CURRENT PREV SESSION DME OMAN 78.31 79.61 DME OMAN DIFF TO DUBAI 1.88 1.63 CASH DUBAI 78.35 79.75 NEWS Russia was willing to meet India's oil needs at "market price", the CEO of top Russian oil major Rosneft told Reuters on Monday. OPEC Secretary General Haitham Al Ghais said on Monday the collective decision to cut output in October was the right move and added that credit should be given to the OPEC+ alliance for its constructive role in supporting global market stability. Equinor said on Monday it had halted oil production at its Johan Sverdrup Phase 1, the North Sea's largest producing field, due to a technical fault in a cooling system. Indian refiners have begun paying for most of their Russian oil purchased via Dubai-based traders in United Arab Emirates dirhams instead of U.S. dollars, four sources with knowledge of the matter said. For crude prices, oil product cracks and refining margins, please click on the RICs below. Brent Dubai DME Oman Brent/Dubai EFS PRODUCT CRACKS
Fuel oil crack Gasoil crack Naphtha crack Complex refining margins (Reporting by Muyu Xu; Editing by Devika Syamnath)

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