SINGAPORE- Middle East crude benchmarks Oman and Dubai were little changed on Wednesday as market participants awaited the release of new monthly official selling prices (OSPs).
The Organization of the Petroleum Exporting Countries and Russia are considering deeper oil output cuts early next year to try to strengthen the oil market, one OPEC source and one source familiar with Russian thinking said on Tuesday.
ASIA-PACIFIC CRUDE:
Australia's Santos has awarded its 2021 term contract for Cooper Basin crude to trading house Vitol, traders said. The production was estimated to be 27,000 barrels per day.
REFINERY
Chinese private refiner and polyester maker Hengli Petrochemical Corp has more than doubled its crude oil storage base to about 43 million barrels, one of the largest held by a single refinery, two company officials said. urn:newsml:reuters.com:*:nL4N2HP23N
NEWS
India's crude oil imports fell for the sixth straight month in September as surging COVID-19 cases continued to limit fuel demand, but the decline was the least since virus restrictions began earlier this year, government data showed on Tuesday.
Libyan oil production has risen to about 850,000 barrels per day (BPD), a Libyan oil source told Reuters on Tuesday.
British oil major BP is close to selling its central London headquarters for about 250 million pounds ($325.65 million) as the coronavirus pandemic has forced the company to cut costs, the Financial Times reported on Tuesday.
Diamondback Energy Inc's Chief Executive Travis Stice said on Tuesday the shale producer sees no need to purchase a competitor following a wave of mergers in the Permian Basin, the top U.S. oil field.
Norway's top court began to hear arguments on Wednesday on the legality of awarding offshore oil licenses in the Arctic, in a landmark case that could stop the industry's expansion.
(Reporting By Shu Zhang; Editing by Shailesh Kuber) ((shu.zhang@thomsonreuters.com; +65-6870-3549; Reuters Messaging: Twitter @shuzhang4))
