Middle East Crude-Benchmarks fall as most Aramco buyers set to get full volumes

Middle East crude benchmarks Oman, Dubai and Murban fell on Monday, after Saudi Arabia agreed to meet full contractual crude oil volumes to most Asian buyers in April.

Saudi Aramco, however, will reduce supply of heavier oil to Chinese and Indian customers due to oilfield maintenance, sources told Reuters on Monday.

UAE’s ADNOC last week set April Murban crude OSP at $80.99/bbl, while Qatar set its April marine crude OSP at Oman/Dubai plus $0.25/bbl.

SINGAPORE CASH DEALS

Cash Dubai’s premium to swaps fell 25 cents to $1.37 a barrel.

NEWS

Saudi Aramco 2223.SE Chief Executive Amin Nasser said on Sunday the oil giant was looking at further opportunities to invest in China, where he said oil demand was robust and growing.

U.S. energy firms this week cut the number of oil and natural gas rigs operating for the first time in three weeks, energy services firm Baker Hughes BKR.O said in its closely followed report on Friday.
Source: Reuters (Reporting by Sudarshan Varadhan; Editing by Shailesh Kuber)