SINGAPORE- Middle East crude benchmark Dubai slipped for a seventh straight session in thin trade on Thursday, as refiners had already completed their purchases ahead of holidays.

Abu Dhabi National Oil Company (ADNOC) has kept crude supply reductions to term customers in Asia largely steady in February versus January, three sources with knowledge of the matter said. 

ADNOC has notified its customers that their February term supplies for Murban and Das crude will be reduced by 18% to 20% while Umm Lulu's supplies will be cut by 5%, the sources said.

Upper Zakum crude supplies will be reduced by 18% in February, they said.

India's MRPL has bought 1 million barrels of Akpo crude via a tender for January-February delivery, trade sources said, adding to its purchase of 2 million barrels for February arrival earlier this month.

Taiwanese refiner CPC has bought 4 million barrels of WTI Midland and 1 million barrels of an unknown grade for March arrival via its monthly tender, traders said. It paid premiums of below $2 a barrel to dated Brent on a cost and freight (C&F) basis for the U.S. cargoes, they said.

 

NEWS

U.S. crude stocks, gasoline and distillate inventories fell last week, as refineries reduced runs ahead of the year-end, the Energy Information Administration said on Wednesday. 

China's gasoline exports in November retreated from record highs, while liquefied natural gas (LNG) imports hit a fresh peak on rising demand at the start of the heating season, data showed on Wednesday. 

U.S. energy firms this week added oil and natural gas rigs for a fifth week in a row as higher energy prices prompt producers to keep returning to the wellpad in recent months. 

(Reporting by Florence Tan; Editing by Rashmi Aich and Subhranshu Sahu) ((Florence.Tan@thomsonreuters.com; Reuters Messaging: florence.tan.thomsonreuters.com@reuters.net))