Middle East crude benchmark spot premiums of Oman, Dubai and Murban posted weekly declines, as OPEC+ decided another output hike in July and Saudi Arabia lowered July official selling prices to Asia.

SINGAPORE CASH DEALS

Cash Dubai’s premium to swaps rose 21 cents to $1 a barrel.

NEWS

India’s two major private-sector refiners, which have long prioritised exports, are turning to local sales, grabbing share in the country’s fast-growing $150 billion fuel retail market as weaker global demand squeezes profit margins offshore.

Petrobras PETR3 aims to make Africa its main region of development outside Brazil, the state-run oil giant’s CEO told Reuters on Thursday during a wide-ranging interview about the company’s strategy.

Indonesia’s Pertamina is seeking to buy up to 1.2 million barrels of term gasoline cargoes monthly for delivery between July and September, according to a document seen by Reuters on Friday, its second such tender in a month.
Source: Reuters