SINGAPORE- Middle East crude benchmarks Oman and Dubai rose for a second straight session on Wednesday, tracking global oil futures, as more buying interests emerged.
Taiwan's CPC closed a monthly tender seeking November-loading sour crude with bids valid till Friday. The refiner did not issue the sour crude tender last month.
India's IOC has bought 4 million barrels of November-loading West African crude - Akpo, Forcados and Egina, via a spot tender closed last week.
Abu Dhabi National Oil Company (ADNOC) will reduce crude oil supplies to term buyers by 25% in November as part of its commitment to the OPEC+ deal, a notice seen by Reuters showed and sources with knowledge of the matter said.
The 25% supply cut will apply to all four ADNOC crude grades - Murban, Umm Lulu, Das, and Upper Zakum.
An OPEC+ ministerial panel known as the JMMC, which monitors compliance with the cuts, is due to meet on Thursday and the poor conformity with the cuts by the United Arab Emirates, along with other OPEC+ members, and a compensation mechanism will be discussed during the meeting, OPEC+ sources told Reuters.
The virtual Platts APPEC 2020 conference concluded on Wednesday.
RUSSIAN CRUDE:
Russian oil producer Surgut sold two November-loading cargoes of ESPO Blend crude at spot premiums of 50-60 cents a barrel to Dubai quotes to ChemChina and Mercuria via its first spot tender closed on Tuesday, traders said.
Surgut is selling three more ESPO crude cargoes, loading Nov. 6-13, Nov. 10-17 and Nov. 13-20, in its second spot tender to be closed later on Wednesday.
ASIA-PACIFIC CRUDE:
Petronas offered a 300,000-barrel cargo of Muda condensate, loading Nov 17-23, in a tender closing on Friday with bids valid till Sept. 22.
REFINERY
China's Hengyi Petrochemical Co Ltd plans to spend $13.65 billion to build the second phase of a refinery and petrochemical complex in Brunei, it said on Tuesday in a stock filing. urn:newsml:reuters.com:*:nL4N2GC1NJ
NEWS
U.S. crude oil stockpiles slumped last week, while gasoline inventories rose, data from industry group the American Petroleum Institute showed on Tuesday.
Russia's Sakhalin Energy said it has halted the Piltun-Astokhskaya-B (PA-B) offshore oil and gas production platform on Wednesday for one month of planned maintenance.
Hurricane Sally crawled offshore along the U.S. Gulf Coast on Wednesday, moving away from oil fields while soaking the region with heavy rains that could damp fuel demand in the U.S. southeast.
Brazil's state-run oil firm Petrobras has lifted its ban on trading with major commodity traders Vitol, Trafigura and Glencore, in place since Brazilian prosecutors announced a bribery probe in 2018, the company told Reuters.
(Reporting By Shu Zhang; Editing by Rashmi Aich) ((shu.zhang@thomsonreuters.com; +65-6870-3549; Reuters Messaging: Twitter @shuzhang4))
