OSP PREVIEW Top oil exporter Saudi Arabia may cut the price for its flagship Arab Light crude to Asia in June despite an extra output cut from OPEC+, as refiners hit by sliding fuel prices consider reducing output and China and India snap up cheap Russian crude. State oil giant Saudi Aramco may reduce the official selling price (OSP) for its medium sour crude by about 40 cents a barrel in June, according to five respondents surveyed by Reuters, following three months of price hikes. SINGAPORE CASH DEALS
Cash Dubai's premium to swaps gained 90 cents to $2.15 a
barrel.
Seller-Buyer Price
UNIPEC-TRAFIGURA 79.70
UNIPEC-PHILLIPS 66 79.70
UNIPEC-BP 79.74
UNIPEC-BP 79.74
UNIPEC-PHILLIPS 66 79.74
PRICES ($/BBL) CURRENT PREV SESSION DME OMAN NA 76.61 DME OMAN DIFF TO DUBAI NA -0.09 CASH DUBAI 79.74 77.95
NEWS OPEC Secretary General Haitham Al Ghais said on Thursday the International Energy Agency (IEA) should be "very careful" about discouraging investment in the oil industry, which was vital for global economic growth. Russian President Vladimir Putin approved on Thursday changes to the law, setting fixed discounts for the price of Urals oil blend to Brent in order to calculate the export duty, according to the official website of legal information. Exxon Mobil Corp and its partners have approved a $12.7 billion investment for their fifth and most expensive offshore oil project in Guyana, the U.S. firm said in a statement. Shell Pipeline Co's Zydeco oil pipeline was shut on April 25 after a limited release of crude oil was detected in the Intracoastal Waterway, east of the Sabine River, a company spokesperson said on Thursday.
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Brent Dubai DME Oman Brent/Dubai EFS PRODUCT CRACKS
Fuel oil crack Gasoil crack Naphtha crack Complex refining margins (Reporting by Muyu Xu)
Asia Europe Americas CRUDE OIL MARKET NEWS
Crude oil tenders in Asia Crude oil supply outages in Asia Refinery outages in Asia Global arbitrage news and flows W.African crude imports to Asia, monthly REFINERY MAINTENANCE DIARIES
Asia Middle East Europe NATIONAL CRUDE IMPORT DATA
Japan China India S.Korea Indonesia CRUDE OIL INVENTORY DATA
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