Middle East crude benchmark premiums for Oman, Dubai and Murban declined on Monday, with the Dubai premiumhitting a near two-month low.

SINGAPORE CASH DEALS

Cash Dubai’s premium to swaps declined 15 cents to $1.54 a barrel, the lowest since Aug. 27.

ExxonMobil will deliver two December Upper Zakum crude cargoes, one to Mitsui and the other to TotalEnergies following the deals.

Saudi Aramco 2222.SE is “fairly bullish” on China’s oil demand especially in light of the government’s stimulus package which aims to boost growth, the head of the state-owned oil giant said on Monday.

China’s oil demand growth is expected to remain weak in 2025 despite recent stimulus measures from Beijing as the world’s No. 2 economy electrifies its car fleet and grows at a slower pace, the head of the International Energy Agency said on Monday.

Mike Muller, Vitol’s Asia CEO, will retire from the global commodity trader in 2025, sources familiar with the matter said, handing over the reins to Bahrain head Kieran Gallagher.
Source: Reuters (Reporting by Siyi Liu in Singapore; Editing by Eileen Soreng)