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RTRS:Middle East Crude-DME Oman's premium to Dubai rises to 1-week high
 
SINGAPORE, May 8 (Reuters) - DME Oman's premium to Dubai
edged up to touch the highest in a week in the Middle East crude
market on Thursday on expectations of higher demand as seasonal
refinery maintenance comes to an end in Asia.
Most Asian refiners are expected to increase crude
throughput to meet peak demand in summer, raising demand for
July-loading crude which trades this week.
Some grades such as Murban, Banoco Arab Medium and Qatar
Marine may start trading in premiums after producers reduced
official selling prices (OSPs).
Qatar has set its April retroactive official selling price
(OSP) for its Marine crude at $105.20 a barrel, up $0.20 a
barrel from the previous month, Qatar News Agency said.

The latest OSPs put Qatar Marine's premium to Dubai quotes
at $0.52 a barrel, down $0.17 from a month earlier, and Qatar
Land's premium to Dubai at $2.17, down 77 cents.
Iraq's State Oil Marketing Organisation (SOMO) has also cut
the June OSP for Basra Light by 35 cents to 95 cents a barrel
below Oman-Dubai quotes, although it's 5 cents shy of the
40-cent cut for competing grade Arab Medium from Saudi Arabia.
Refiners remained cautious about raising crude runs as
margins were slow to rise even though the region has undergone a
heavy maintenance season and permanent shutdowns at some
refineries in Japan.
Concerns about a slowdown in China's economic growth that
dampened fuel demand at the world's second largest oil consumer
in the first quarter remained, although the outlook improved in
April.
China's crude imports rose more than a fifth in April from a
year earlier to a record high of 6.78 million barrels per day
(bpd), data showed on Thursday. Higher seasonal demand and
indications of stockpiling had boosted crude imports.

Saudi Arabia produced 9.66 million barrels per day (bpd) of
crude oil in April, up from 9.566 million bpd in March, an
industry source familiar with the matter said.

*DME OMAN
DME Oman for July settled at $104.34, up 47 cents, at 0830
GMT. This put DME Oman at $1.49 a barrel above Dubai swaps,
against a premium of $1.30 in the previous session.

*MARKET NEWS
The supply of North Sea crude that underpins the Brent
benchmark will average 880,000 barrels per day (bpd) in June,
according to loading schedules provided by trade sources on
Wednesday, up from May's schedule.
Rebels occupying major oil ports in eastern Libya said on
Wednesday they would boycott Prime Minister Ahmed Maiteeq and
keep two major export terminals shut for now, a blow to efforts
to restore vital oil exports.
Assailants blew up Yemen's main oil export pipeline, halting
crude flows, local officials said on Wednesday, while other
gunmen attacked electricity lines, causing a power outage in
most of the country's northern cities.

For crude prices, oil product cracks and refining margins,
please click on the RICs below.
Source