OSP Iran has set the official selling price (OSP) of its Iranian Light crude oil grade for its Asian buyers at $2.80 a barrel above the Oman/Dubai average for May, an industry source with knowledge of the matter said on Monday. The May price is up 30 cents from the previous month. SINGAPORE CASH DEALS
Cash Dubai's premium to swaps dropped 31 cents to $1.34 a
barrel. Exxonmobil will deliver a June-loading Upper Zakum to
Vitol following the trade.
Seller-Buyer Price
EXXONMOBILVITOL 80.85
PETROCHINAVITOL 80.90
EXXONMOBILVITOL 80.90
PRICES ($/BBL) CURRENT PREV SESSION DME OMAN 81.25 81.01 DME OMAN DIFF TO DUBAI 1.69 NA CASH DUBAI 80.90 80.75
NEWS Kazakhstan ramped up oil exports bypassing Russia in the first quarter of 2023 as it seeks to reduce its dependency on its vast neighbour, data from industry sources and Refinitiv showed. OPEC's share of India's oil imports fell at the fastest pace in 2022/23 to the lowest in at least 22 years, as intake of cheaper Russian oil surged, data obtained from industry sources show, and the major producers' share could shrink further this year. Tankers delivering to ports in China's Shandong province are facing delays in discharging their oil due to orders for tighter customs inspection checks after several Iranian cargoes were declared as diluted bitumen, traders said. Sri Lanka's Ceypetco has issued a tender to buy 500 ppm sulphur gasoil contract cargoes for the first time in more than a year, a tender document on the company's website showed on Monday.
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