SINGAPORE- Middle East crude benchmarks Oman and Dubai edged down on Monday as market participants continued to wait for the release of fresh monthly official selling prices (OSPs).
Indonesia's Pertamina closed a spot tender seeking crude for January import using its Banyu Urip Crude, loading in Nov-Dec, for swap.
Pertamina also closed a separate spot tender seeking condensate for January delivery.
REFINERY
East China-based private refiner Shandong Hongrun Group plans to further expand its mega crude oil tank farm by another 20% next year to meet growing demand from external parties, a company official told Reuters on Monday.
NEWS
Renewed lockdown measures in Europe aimed at containing a rise in COVID-19 cases appear set to push the outlook for global oil demand toward the downside, an official with the International Energy Agency (IEA) said.
China's crude oil imports slipped 12.2% in October from the prior month as refiners hit the brakes after months of a buying frenzy that had raised crude inventory to a near-full level, and as independent refineries run out of import quotas.
Key members of OPEC are wary that strains in the OPEC+ alliance could reemerge with Joe Biden as U.S. President, sources close to the organisation said, and would miss President Donald Trump who went from criticising the group to helping bring about a record oil output cut.
Iranian foreign minister Mohammad Javad Zarif called on his country's neighbours to cooperate in achieving common interests, following U.S President Donald Trump's defeat in the presidential election.
(Reporting by Shu Zhang; Editing by Devika Syamnath) ((shu.zhang@thomsonreuters.com; +65-6870-3549; Reuters Messaging: Twitter @shuzhang4))
