Middle East Crude-Benchmarks slip; OPEC+ meeting in focus

Reuters12-05

SINGAPORE, Dec 5 (Reuters) - Middle East crude benchmark spot premiums for Oman, Dubai and Murban all declined on Thursday, while investors are awaiting the outcome from OPEC+'s meeting later in the day.

OPEC+ is likely to extend its latest round of oil production cuts by at least three months from January when it meets online at 1100 GMT on Thursday, OPEC+ sources told Reuters, to provide additional support for the oil market.

SINGAPORE CASH DEALS

Cash Dubai's premium to swaps fell 28 cents to $0.93 a barrel.

Vitol will deliver a February Oman crude cargo to TotalEnergies following the deals.

ExxonMobil will deliver a February Upper Zakum crude cargo to TotalEnergies following the deals.

SELLER-BUYER	PRICE ($/BBL)
EXXONMOBIL-TOTAL	72.10
RELIANCE-TOTAL	72.09
EXXONMOBIL-TOTAL	72.10
EXXONMOBIL-TOTAL	72.10
EXXONMOBIL-TOTAL	72.10
VITOL-TOTAL	72.11
EXXONMOBIL-TOTAL	72.10
EXXONMOBIL-TOTAL	72.10
EQUINOR-TOTAL	72.10
EXXONMOBIL-TOTAL	72.10
VITOL-TOTAL	72.10
EXXONMOBIL-GLENCORE	72.09
EXXONMOBIL-TOTAL	72.10
VITOL-TOTAL	72.11
TRAFIGURA-TOTAL	72.10
EXXONMOBIL-TOTAL	72.10
PETROCHINA-TOTAL	72.10
TRAFIGURA-TOTAL	72.10
EXXONMOBIL-TOTAL	72.10
PETROCHINA-TOTAL	72.10
VITOL-GLENCORE	72.09
EXXONMOBIL-TOTAL	72.10
BP-TOTAL	72.10
BP-TOTAL	72.10
EXXONMOBIL-TOTAL	72.10
PETROCHINA-TOTAL	72.10
PHILLIPS 66-TOTAL	72.10
SHELL-TOTAL	72.11
EXXONMOBIL-TOTAL	72.10
VITOL-TOTAL	72.10
EXXONMOBIL-TOTAL	72.10
EXXONMOBIL-TOTAL	72.10
VITOL-TOTAL	72.10
EXXONMOBIL-TOTAL	72.10
RELIANCE-HENGLI	72.09
EQUINOR-TOTAL	72.10
EXXONMOBIL-TOTAL	72.10
VITOL-TOTAL	72.10
BP-TOTAL	72.11
PETROCHINA-TOTAL	72.10
EXXONMOBIL-GLENCORE	72.10
VITOL-TOTAL	72.10
SHELL-TOTAL	72.11
EXXONMOBIL-TOTAL	72.10
VITOL-TOTAL	72.10
EXXONMOBIL-TOTAL	72.10
EXXONMOBIL-TOTAL	72.10
VITOL-MITSUI	72.09

PRICES ($/BBL)

	CURRENT	PREV SESSION
GME OMAN	72.06	73.35
GME OMAN DIFF TO DUBAI	0.89	1.17
CASH DUBAI	72.10	73.39

NEWS

Shell SHEL.L and Norway's Equinor EQNR.OL will merge their British offshore oil and gas assets into an equal joint venture, they announced on Thursday.

Three trading houses have become dominant sellers of Russian oil to India as many smaller players dropped out of the business due to high funding costs in Russia and lack of access to Western funds, according to data and six trading sources.

Igor Sechin, the head of Russia's largest oil producer Rosneft ROSN.MM, said on Thursday that the OPEC+ group's decisions to reduce oil output in 2016 and 2020 helped the U.S. shale industry and made it a leading global energy exporter.

Russian crude oil flows to the Czech Republic through the Druzhba pipeline remained halted on Thursday, refiner Unipetrol PKN.WA said.

Shell SHEL.L is stepping back from new offshore wind investments and is splitting its power division following an extensive review of the business that was once seen as a key driver of the company's energy transition strategy.

For crude prices, oil product cracks and refining margins, please click on the RICs below.

Brent	BRENTSGMc1
Dubai	DUBSGSWMc2
GME Oman	OQc1
Brent/Dubai EFS	DUB-EFS-1M

PRODUCT CRACKS
Fuel oil crack	FO180SGCKMc1
Gasoil crack	GO10SGCKMc1
Naphtha crack	NAF-SIN-CRK
Gasoline crack	GL92-SIN-CRK
Complex refining margins	REF/MARGIN1

(Reporting by Siyi Liu in Singapore; Editing by Vijay Kishore)

((siyi.liu@thomsonreuters.com;))

RECENT CRUDE OIL TRADES:
Asia ACRU/T  Europe CRU/T Americas CRU/TU
      
CRUDE OIL MARKET NEWS      
Crude oil tenders in Asia                       CRU/TENDA
Crude oil supply outages in Asia                CRU/OUT-ASIA-O      
Refinery outages in Asia                        REF/OUT-ASIA-O      
Global arbitrage news and flows                 O/CRUDEARB      
W.African crude imports to Asia,  monthly       O/WAFRICA1      
REFINERY MAINTENANCE DIARIES      
Asia REF/A   Middle East REF/ME   Europe REF/E      
                       
NATIONAL CRUDE IMPORT DATA      
Japan     METI/JP1   China   O/CHINA1      
India     O/INDIA2   S.Korea O/KOREA1      
Indonesia O/INDO1-CRU         
                       
CRUDE OIL INVENTORY DATA      
Japan O/JAPAN1  US EIA/S  Europe O/EUROIL1      
                    
CRUDE OIL PRODUCTION/OILFIELD NEWS      
OPEC output survey OPEC/O          New Africa fields    AFR/NEW 
New projects       ENERGY/NEW      New Americas  fields AM/NEW
CRUDE OIL MARKET REPORTS      
Middle East             CRU/MAsia-Pacific         CRU/AP      
West Africa             CRU/WAF  North Sea            CRU/E      
Asia outlook            ASIA/CRU Europe outlook       EUR/CRU      
Global futures report   O/R      Technicals report    O/I      
                            
PRICES      
For all Official Selling  Prices       OSP/O      
For a POLL on oil  prices              O/POLL      
NYMEX and ICE oil  futures             OILOIL      
TOCOM crude oil  futures               0#JCO:      
Dubai, Oman swaps and  spread          ASIA/SWAP/CRUDE      
Middle East physical crude diffs       CRUDE/ASIA2      
Australia physical crude, Tapis swaps  CRUDE/ASIA1      
Asia-Pacific physical crude            CRUDE/ASIA3      
All Asian crude oil  differentials     0#C-DIF-A
All Asian crude oil outright  prices   0#C-A

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Middle East Crude-Benchmarks slip; OPEC+ meeting in focus

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