Middle East Crude-Benchmarks edge up; ONGC closes Sept-loading Sokol tender

China's crude oil imports in the first half fell 3% from a year earlier

  

SINGAPORE\- Middle East crude benchmarks Oman and Dubai edged up on Tuesday, while spot trading remained largely muted.

ONGC closed a tender to sell a cargo of Russian Sokol crude, loading Sept. 2-8, with bids valid till later on Tuesday.

India's IOC will close another buy tender on Thursday.

NEWS

Stalled talks by top oil producers over releasing more supply could deteriorate into a price war just as COVID-19 vaccines are sending demand for oil surging, the International Energy Agency (IEA) said on Tuesday. 

China's crude oil imports in the first half fell 3% from a year earlier, the first contraction for the first six months of a year since 2013, as an import quota shortage, refinery maintenance and rising global prices curbed buying. 

Guyana is re-launching a search for a company to market the government's share of crude oil produced off the South American country's coast to make the tender process "simpler and more competitive," the natural resources minister said on Monday.

(Reporting By Shu Zhang; Editing by Ramakrishnan M.) ((shu.zhang@thomsonreuters.com; +65-6870-3549; Reuters Messaging: Twitter @shuzhang4))


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