Middle East Crude-Benchmarks mixed on last trading day in November

Middle East crude benchmarks Oman and Dubai were mixed on Tuesday

  

SINGAPORE- Middle East crude benchmarks Oman and Dubai were mixed on Tuesday, the last day of trade for the month.

Abu Dhabi National Oil Company (ADNOC) will supply full volumes of all crude grades to term customers in Asia in February for a third straight month, two sources with knowledge of the matter said on Tuesday. 

OSPs

The official selling price (OSP) for Oman crude in January will fall by $1.32 to $80.26 a barrel, Reuters calculations based on data from the Dubai Mercantile Exchange (DME) showed on Tuesday. 

The average IFAD Murban crude price, or ADNOC's official selling price for Murban in January, is at $82.03 a barrel, down 70 cents from the previous month, according to Reuters calculation.

Middle East crude benchmark Dubai, as quoted by price reporting agency S&P Global Platts, fell to an average of $80.276 a barrel in November, a trade source said on Tuesday. 

NEWS

Global jet fuel markets stayed under pressure on Tuesday as more countries expanded border restrictions to keep the new Omicron coronavirus variant at bay, prompting travellers to reconsider their plans.

Nigeria's Seplat Energy along with a partner is in talks to buy ExxonMobil's XOM.N shallow-water oilfields in the African nation, the company said on Monday, cautioning there was no certainty about the outcome. 

Indonesia's 2022 unblended biodiesel consumption is seen at 10 million kilolitres (KL), up from the targeted 9.2 million KL this year, a document presented by senior energy ministry official, Dadan Kusdiana, showed on Tuesday.

Russia and Saudi Arabia signalled on Monday there was no need for OPEC+ to race to adjust oil output policy this week, as crude prices rebounded from last week's slide with the worst fears about the impact of the Omicron variant on demand easing. 

Woodside Petroleum said an environmental body will challenge the government's decision to approve the expansion of its Pluto LNG train on concerns of environmental harm caused by greenhouse gas emissions.

For crude prices, oil product cracks and refining margins, please click on the RICs below.

(Reporting by Florence Tan; editing by Uttaresh.V) ((Florence.Tan@thomsonreuters.com; Reuters Messaging: florence.tan.thomsonreuters.com@reuters.net))


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