SINGAPORE- Middle East crude benchmarks Oman and Dubai slipped on Thursday, but differentials firmed amid steady demand from Indian and Chinese buyers, trade sources said.
Meanwhile, market participants continued to await the release of fresh monthly official selling prices from key producers such as Iraq, Qatar and Kuwait.
NEWS
U.S. crude oil stockpiles last week surged the most since April, jumping more than 15 million barrels, as imports rose and exports plunged, the Energy Information Administration said on Wednesday.
The unexpected supply build and record rise in net imports stunned the oil market, which has been weighed down by low demand due to the coronavirus pandemic.
Commodities trader Trafigura has fully bought out the family stake of its late founder Claude Dauphin after record earnings in 2020, boosted by pandemic-related volatility and a consolidating sector, its chief financial officer told Reuters.
United Arab Emirates' Abu Dhabi National Oil Co (ADNOC) said on Wednesday it had awarded an onshore exploration concession to Occidental Petroleum Corp.
(Reporting by Roslan Khasawneh; Editing by Vinay Dwivedi) ((roslan.khasawneh@thomsonreuters.com; +65 6973 8288; Reuters Messaging: roslan.khasawneh.thomsonreuters.com@reuters.net))
