Middle East crude benchmark spot premiums of Oman and Murban trended downwards on Friday and posted a fourth weekly decline, while that of Dubai was little changed on a daily and weekly basis.

Taiwan’s CPC will close a tender seeking to buy May-arrival sweet crude on Friday.

SINGAPORE CASH DEALS

Cash Dubai’s premium to swaps rose 4 cents to $3.17 a barrel.

NEWS

Kazakhstan has pumped record high oil volumes despite damage on its main export route via Russia, the Caspian Pipeline Consortium (CPC), industry sources said on Thursday.

U.S. crude oil stockpiles rose while gasoline and distillate inventories fell last week as seasonal maintenance at refineries led to lower processing, the Energy Information Administration said on Thursday.

Guyana expects to soon sign an oil production-sharing agreement with a consortium led by France’s TotalEnergies TTE that will allow it to explore an offshore area, Energy Minister Vickram Bharrat told Reuters.

Canadian oil and gas producer Cenovus Energy CVE anticipates a return this spring to more normal market conditions in the North American refinery sector, the company’s CEO said on Thursday.
Source: Reuters