SINGAPORE- Middle East crude benchmarks Oman and Dubai rose on the last day of the month, while investors' attention was on an upcoming OPEC+ meeting on Tuesday.
The OPEC+ group is likely to stick to the existing pace of gradually easing oil supply curbs at their meeting, OPEC sources said, as producers balance expectations of a recovery in demand against a possible increase in Iranian supply.
Iran's oil output can easily reach 6.5 million barrels per day (bpd) when U.S. sanctions are lifted, Iranian Oil Minister Bijan Zanganeh said on Monday, according to the Ministry's SHANA website.
Brent crude's premium to Dubai swaps on Monday widened for a third straight session to $3.21 a barrel, its highest since May 5, Refinitiv Eikon data showed.
The official selling price (OSP) for Oman crude in July will rise by $3.30 to $66.4 a barrel, Reuters calculations based on data from the Dubai Mercantile Exchange (DME) showed.
The Dubai crude OSP, set at a $0.30 per barrel discount to DME Oman, was calculated at $66.10 a barrel for July.
NEWS
The number of daily new COVID-19 cases in Malaysia has soared past India's on a per capita basis, while total cases in Thailand, Vietnam, Cambodia, Laos and East Timor have all more than doubled in the past month.
A cargo of 1.033 million barrels of Iranian crude oil landed on U.S. shores in March, data from the U.S. Energy Information Administration (EIA) showed, the second shipment of Iranian oil to be imported into the United States since 1991.
An Iranian-flagged tanker seized by Indonesia in January over the suspected illegal transfer of oil has been released, an Indonesian official and Iranian state media said on Saturday.
Oil and gas group Total won more than 90% backing for its climate plan to gradually reduce its emissions on Friday, when shareholders also voted overwhelmingly in favour of its rebranding as TotalEnergies to mark a shift to renewable energy.
Thousands of new oil wells and hundreds of new oilfields will be needed to meet global demand even if it falls sharply towards the middle of the century, Oslo-based consultancy Rystad Energy said on Friday.
(Reporting By Shu Zhang; editing by David Evans) ((shu.zhang@thomsonreuters.com; +65-6870-3549; Reuters Messaging: Twitter @shuzhang4))
