Middle East Crude-Benchmarks drop; China's April crude imports fall on heavy maintenance

SINGAPORE, May 9 (Reuters) - Middle East crude benchmarks Oman, Dubai and Murban dropped on Tuesday as China's contracted imports and slower-than-expected exports growth in April exacerbated concerns over tepid domestic demand in the world's top oil importer. China's crude oil imports fell in April to the lowest level since January, customs data showed on Tuesday, as high inventories, refinery maintenance and a weaker domestic economic rebound weighed on demand. Crude imports in April totalled 42.41 million tonnes, or 10.3 million barrels per day (bpd), according to data from the General Administration of Customs. That was down 1.45% from the 10.5 million bpd of crude imported in April last year.

OPEC+ The United Arab Emirates' energy minister Suhail al-Mazrouei said on Tuesday that additional voluntary output cuts by the OPEC+ producer group were implemented to balance the oil market. SINGAPORE CASH DEALS Cash Dubai's premium to swaps fell 14 cents to $1.55 a barrel.
Seller-Buyer Price VITOL-PETROCHINA 75.80 VITOL-TOTAL 75.80 VITOL-PHILLIPS 66 75.80 VITOL-SHELL 75.80 VITOL-TRAFIGURA 75.80 EXXONMOBIL-PETROCHINA 75.80 GLENCORE-TRAFIGURA 75.80 EXXONMOBIL-TOTAL 75.79 EXXONMOBIL-PETROCHINA 75.80 GLENCORE-SHELL 75.80 GUNVOR-SHELL 75.81 EXXONMOBIL-TRAFIGURA 75.80 RELIANCE-PETROCHINA 75.78 GUNVOR-SHELL 75.81 RELIANCE-TOTAL 75.78 EXXONMOBIL-SHELL 75.80 VITOL-PETROCHINA 75.78 RELIANCE-TOTAL 75.78 EXXONMOBIL-SHELL 75.80 GLENCORE-PETROCHINA 75.78 RELIANCE-TOTAL 75.78 EXXONMOBIL-SHELL 75.80 GUNVOR-PHILLIPS 66 75.81

PRICES ($/BBL) CURRENT PREV SESSION DME OMAN 75.74 76.10 DME OMAN DIFF TO DUBAI 1.49 1.60 CASH DUBAI 75.80 76.19

NEWS Saudi oil giant Aramco's first-quarter net profit dropped 19% from a year earlier to 119.54 billion riyals ($31.88 billion), it said on Tuesday, due to lower crude prices. Iraq's oil ministry said on Monday that the Al-Qayyarah oilfield in Nineveh province has resumed production and export operations, with a capacity of 33,000 barrels per day. Indonesian state energy company PT Pertamina has deferred some of its gasoline deliveries for May to June after the high-demand season of Ramadan ended, trade sources said. Canada's main oil-producing province Alberta on Saturday declared a provincial state of emergency due to wildfires, shutting in at least 280,000 barrels of oil equivalent per day (boepd), or more than 3% of the country's production. India's fuel consumption eased in April from record highs seen the previous month, official data showed on Monday, but sales of diesel scaled a new peak indicating robust industrial activity in the world's third-biggest oil consumer.

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 Shilpi Majumdar)

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