SINGAPORE, Sept 12 (Reuters) -The spot premium for the Middle East crude benchmark Dubai inched lower on Thursday after Saudi Arabia allocated more supply to the world's top importer, China, in October.

SAUDI ALLOCATION

Saudi Arabia's crude oil supply to China is set to rise to 46 million barrels in October, trade sources said, after the world's top oil exporter slashed prices for Asia, boosting demand.

China's top refiners, Sinopec and PetroChina, sought more crude for loading in October while demand from private refiners Rongsheng Petrochemical and Hengli Petrochemical held steady, they said.

The October volume is higher than the 43 million barrels that Chinese refiners are expected to receive in September.

SINGAPORE CASH DEALS

Cash Dubai's premium to swaps fell 2 cents to $1.97 a barrel.

ExxonMobil will deliver one cargo of November-loading Upper Zakum crude each to Mitsui and Vitol following the trades.

PRICES ($/BBL)

REFINERY

Japan's biggest refiner, Eneos Corp, shut the 153,000 barrel-per-day (bpd) crude distillation unit (CDU) at its Negishi refinery near Tokyo on Sept. 9 for scheduled maintenance, a company spokesperson said on Thursday.

Petroineos has confirmed it will close Scotland's only oil refinery, at Grangemouth, in the second quarter of next year, a spokesperson for the company said on Thursday.

NEWS

The International Energy Agency (IEA) has cut its 2024 oil demand growth forecast by 70,000 barrels per day (bpd), or about 7.2%, to 900,000 bpd, it said in its monthly oil market report on Thursday,

Energy production and agricultural exports out of the U.S. Gulf of Mexico were partially disrupted on Wednesday, and some oil refineries in Louisiana slowed operations ahead of Hurricane Francine's landfall later in the day, according to official and operator reports.

U.S. oil stockpiles rose across the board last week as crude imports grew and exports dipped and as gasoline and distillate demand weakened, the Energy Information Administration (EIA) said on Wednesday.

Libyan oil exports fell around 81% last week, Kpler data showed, as the National Oil Corporation cancelled cargoes amid a crisis over control of Libya's central bank and oil revenue.

Finnish refiner Neste NESTE.HE on Wednesday cut the margin outlook for its biofuel business for the third time this year due to falling prices and also lowered its expected sales volumes, sending the company's share price down 10%.

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

Reporting by Florence Tan; Editing by Tasim Zahid

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