SINGAPORE- Middle East crude benchmarks Oman and Dubai were mixed on Tuesday.

Abu Dhabi National Oil Company (ADNOC) has set the July selling price for its benchmark Murban crude at plus $1.00 per barrel to Platts Dubai, raising it by $5.45 from the previous month. 

Traders continued to wait for official selling prices from other Gulf producers.

 

ASIA-PACIFIC CRUDE:

Four cargoes of Australia's North West Shelf (NWS) condensate are scheduled to load in August, the same as the previous month, a preliminary loading programme showed on Tuesday.

 

REFINERY

China's oil hub Shandong has embarked on a plan to shut down capacity of half a million barrels per day shared among small, independent refiners to make way for a giant complex that should spur economic recovery from the coronavirus crisis. 

 

NEWS

Oil prices are likely to pull back in the coming weeks due to the uncertain path of future demand and a "daunting" inventory overhang, Goldman Sachs said in a note dated Monday. 

Saudi Arabia will boost output in July to match its output OPEC quota while ending deeper, voluntary cuts amid signs of global demand recovering, the Saudi energy minister said on Monday.

Non-complying OPEC+ members will cut output steeper than their quota in July-September after failing to deliver fully on pledged cuts for May-June, Saudi energy minister Prince Abdulaziz bin Salman told a news conference on Monday. 

Libya's National Oil Corporation (NOC) declared force majeure on exports from its giant Sharara oilfield on Tuesday after an armed group shut down production at the field days after it had reopened. 

BP will cut about 15% of its workforce in response to the coronavirus crisis and as part of Chief Executive Bernard Looney's plan to shift the oil and gas major to renewable energy, it said on Monday. 

Iraq's new oil minister Ihsan Abdul Jabbar affirmed in a phone call with Saudi energy minister Prince Abdulaziz bin Salman Iraq's full commitment to the OPEC+ production cut deal, the oil ministry said in a statement on Monday. 

Norway's parliament has agreed additional tax breaks for the oil industry on top of those proposed by the minority government to spur investment and protect jobs, the ruling Conservative Party said on Monday. urn:newsml:reuters.com:*:nL8N2DL3TX

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