Middle East Crude-Benchmarks fall as Saudi cuts January prices for Asian buyers

Reuters12-09

SINGAPORE, Dec 9 (Reuters) - Middle East crude benchmarks Oman, Dubai and Murban slid on Monday, after Saudi Aramco cut its January 2025 prices for Asian buyers to the lowest level since early 2021.

The price cuts, announced by the world's biggest crude oil exporter on Sunday, underscored demand weakness from top importer China.

SINGAPORE CASH DEALS

Cash Dubai's premium to swaps fell 7 cents to $0.75 a barrel.

ExxonMobil will deliver a February-loading Upper Zakum crude cargo to TotalEnergies.

SELLER-BUYER	PRICE ($/BBL)
EXXONMOBIL-TOTAL	71.76
EXXONMOBIL-HENGLI	71.76
RELIANCE-MITSUI	71.76
EXXONMOBIL-TOTAL	71.76
EXXONMOBIL-MITSUI	71.76
EXXONMOBIL-TOTAL	71.76
EXXONMOBIL-HENGLI	71.76
EQUINOR-MITSUI	71.76
EXXONMOBIL-TOTAL	71.76
EXXONMOBIL-MITSUI	71.76
PETROCHINA-HENGLI	71.76
PHILLIPS 66-TOTAL	71.76
EXXONMOBIL-MITSUI	71.76
EXXONMOBIL-GLENCORE	71.75
EXXONMOBIL-MITSUI	71.76
PETROCHINA-TOTAL	71.76
RELIANCE-HENGLI	71.76
EXXONMOBIL-TOTAL	71.76
PETROCHINA-MITSUI	71.76
EXXONMOBIL-TOTAL	71.76
RELIANCE-TOTAL	71.76
PETROCHINA-GLENCORE	71.76
EXXONMOBIL-TOTAL	71.76
PETROCHINA-TOTAL	71.76
RELIANCE-TOTAL	71.76
EXXONMOBIL-TOTAL	71.76
PETROCHINA-TOTAL	71.76
EXXONMOBIL-TOTAL	71.76
RELIANCE-TOTAL	71.76
EXXONMOBIL-TOTAL	71.76
EXXONMOBIL-TOTAL	71.76
PETROCHINA-MERCURIA	71.75
PHILLIPS 66-TOTAL	71.77
RELIANCE-TOTAL	71.76
EXXONMOBIL-GLENCORE	71.76
PETROCHINA-TOTAL	71.76
EXXONMOBIL-GLENCORE	71.76
PETROCHINA-TOTAL	71.76
EXXONMOBIL-TOTAL	71.76

PRICES ($/BBL)

	CURRENT	PREV SESSION
GME OMAN	71.77	71.73
GME OMAN DIFF TO DUBAI	0.76	0.85
CASH DUBAI	71.76	71.70

NEWS

Igor Sechin, the head of Russia's largest oil producer Rosneft ROSN.MM, said on Saturday he approved of U.S. President-elect Donald Trump's proposals to defend domestic energy producers.

Money managers raised their net long U.S. crude futures and options positions in the week to Dec. 3, the U.S. Commodity Futures Trading Commission said on Friday.

Equinor EQNR.OL has closed the planned sale of its assets in Nigeria and Azerbaijan for a total consideration of up to $2 billion, completing exits from the two countries after some 30 years, the Norwegian oil and gas firm said on Monday.

Kuwait Foreign Petroleum Exploration Company is looking at more oil and gas opportunities in Indonesia's Natuna Sea, its country representative said on Monday, with Indonesian President Prabowo Subianto looking to boost the country's production.

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 Arun Koyyur)

((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 fall as Saudi cuts January prices for Asian buyers

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