Middle East crude benchmarks Oman and Dubai jumped on Friday as renewed concerns over supply shortages pushed global oil prices higher.

TotalEnergies, which was a dominant buyer of Dubai partials in the Platts window throughout most of January, has been an active seller of the Dubai partials over the past two trading sessions.

Oil prices climbed on Friday, extending sharp gains in the previous session as frigid weather swept across large swathes of the United States, threatening to further disrupt oil supplies.

The Oman differential to Dubai also hit a more than 2-1/2-month high of $4.03 a barrel on Friday.

MALAYSIA OSP
The official selling price of a basket of January-loading Malaysian Crude Oil grades OSP/MY has been set at $93.22 a barrel, a price document showed on Friday.

OPEC+ MEETING
After a month in which oil prices surged 15% and geopolitical tensions seethed around the world, OPEC and its allies took a record-quick 16 minutes to decide that they would stick to their previously planned output increase.

Apparently, there were no lengthy discussions at Wednesday’s meeting about member nations of the producer group failing to hit their production targets or about one of the busiest months on the geopolitical front in years, featuring: a potential war between Russia and Ukraine; rare unrest in Kazakhstan; hints of progress in nuclear talks progress between the United States and Iran; and repeated Houthi drone attacks on the United Arab Emirates.

For crude prices, oil product cracks and refining margins, please click on the RICs below. Brent Dubai DME Oman OQc1 Brent/Dubai
Source: Reuters (Reporting by Roslan Khasawneh; editing by Editing by Aditya Soni)