Middle East crude benchmarks were mixed on Wednesday, with Oman and Dubai falling amid thin trade in spot markets, while light sour Murban edged higher over concerns of supply disruption from Gabon.

Military officers in oil-producing Gabon said they had seized power on Wednesday, after the Central African state’s election body announced that President Ali Bongo had won a third term.

The OPEC member produced 200,000 barrels-per-day of crude oil in July. Shipping data from Kpler showed that China and Indonesia were the biggest Gabonese oil takers in August.

By far, there is no reporting of oil output disruption in the country.

Meanwhile, Saudi Arabia may raise prices of all crude grades it sells to Asia in October as the world’s top oil exporter is expected to extend its voluntary output cut for a third month, keeping sour crude supply tight and prices elevated.

The October official selling price (OSP) for flagship Arab Light crude could increase by about 45 cents a barrel from the previous month, according to five refining sources surveyed by Reuters, which would be the grade’s highest price so far this year.

SINGAPORE CASH DEALS

Cash Dubai’s premium to swaps fell 19 cents to $1.67 a barrel.

Following the trades, Vitol will receive four October Upper Zakum crude, with two cargoes from ExxonMobil, one from Glencore and the other one from PetroChina.

Vitol will also receive one October al-Shaheen crude from Glencore.

NEWS

India will buy oil from all sources that offer it at the “lowest possible prices”, the country’s oil minister told broadcaster ET Now on Wednesday.

Rosneft ROSN.MM, Russia’s largest oil producer, said on Wednesday its output of oil and gas condensate dipped in the second quarter from the prior three-month period due to an agreement with OPEC+ group of oil producers to curb production.

Chinese refiners are poised to boost diesel exports in September to more than 1 million metric tons, drawn by lucrative margins from selling overseas and as they expect to receive more export quotas from Beijing, traders and analysts said.

Australia’s Woodside Energy WDS.AX said on Wednesday the development plan for its Trion deepwater oil project in Mexico was approved by the North American country’s oil and gas exploration regulator.
Source: Reuters (Reporting by Muyu Xu; Editing by Sonia Cheema)