SINGAPORE- Middle East crude benchmarks Oman and Dubai differentials jumped on Wednesday.
Spot premium for DME Oman crude over Dubai quotes rose to $3.92 a barrel, the highest since at least 2014, according to Reuters calculations and Refinitiv Eikon data.
ASIA-PACIFIC CRUDE:
Indian oil explorer ONGC Videsh sold one cargo of December-loading Russian Sokol crude at a premium of around $9.20-9.25 a barrel to Dubai quotes via a spot tender, the highest since September 2013, traders said. SOK-DUB The buyer was Trafigura.
Malaysia's Petronas has offered to sell 300,000 barrels of Bertam crude in a tender closing on Oct. 25 with bids valid till Oct. 28. The loadings dates are Dec. 27-31.
REFINERY
S-Oil, South Korea's third-largest refiner, said that regional refining margins are expected to improve in the fourth quarter on the back of inventory build-up ahead of implementation of stricter rules on marine fuels in 2020.
NEWS
OPEC and its allies will consider whether to deepen cuts to crude supply when they next meet in December due to worries about weak demand growth in 2020, sources from the oil-producing club said.T
Brent crude oil prices will likely continue trading around current levels in 2020, Goldman Sachs said, with slowing economic growth and geopolitical concerns failing to create large waves in the market.
Equity analysts have cut their earnings forecasts for Asia's oil refiners as a surge in oil tanker freight rates and crude premiums offset an expected boost in refining margins.
Rosneft Trading SA, a subsidiary of Russian oil producer Rosneft, has sold a 100,000 tonne cargo of contaminated oil to energy trader Vitol with a discount of more than $25 per barrel to dated Brent, traders said on Tuesday.Y
Brazil's Petrobras could take over marketing of the government's share of crude from offshore oilfields, a government official told Reuters, adding significantly to the state-run oil firm's trading operations.
Oil giant Saudi Aramco's much-vaunted stock market listing was delayed after deal advisers said they need more time to lock in cornerstone investors, three sources with direct knowledge of the matter told Reuters.
(Reporting By Shu Zhang; editing by Uttaresh.V) ((shu.zhang@thomsonreuters.com; +65-6870-3549; Reuters Messaging: shu.zhang.thomsonreuters.com@reuters.net; Twitter @shuzhang4))
