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Middle East Crude -Benchmarks gain; Saudi may raise Sept OSPs



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NEW DELHI, Aug 1 (Reuters) -Middle East crude benchmarks gained on Thursday, with Dubai rising by $1 to $80.55 a barrel, as traders turned their focus on the oil-producing group's ministerial meeting.

OPEC+ key ministers meet on Thursday to decide on the output policy with sources believing they are unlikely to make any changes to their current production cuts and will start unwinding some of them from October, despite recent sharp declines in oil prices.

Top ministers from the Organization of the Petroleum Exporting Countries and allies led by Russia, or OPEC+ as the group is known, will hold an online joint ministerial monitoring committee meeting (JMMC) on Thursday at 1100 GMT.


SAUDI OSP PREVIEW

Top oil exporter Saudi Arabia may raise prices for crude it sells to Asia for the first time in three months in September, tracking a rise in Middle East benchmark Dubai, traders said on Thursday.

The official selling price (OSP) for flagship Arab Light crude to be loaded in September for Asia is expected to rise by 50 to 80 cents a barrel from the previous month, four refining sources told Reuters in a survey.


SINGAPORE CASH DEALS

Cash Dubai's premium to swaps rose 4 cents to 99 cents a barrel.

SELLER-BUYER

PRICE ($/BBL)

UNIPEC-VITOL

80.55

TRAFIGURA-KOCH

80.55

TRAFIGURA-VITOL

80.55

PHILLIPS 66-VITOL

80.55

TRAFIGURA-VITOL

80.55

TRAFIGURA-VITOL

80.55

TRAFIGURA-VITOL

80.55

PHILLIPS 66-VITOL

80.55

TRAFIGURA-GLENCORE

80.45

MITSUI-GUNVOR

80.55

MITSUI-VITOL

80.55

PHILLIPS 66-VITOL

80.55


PRICES ($/BBL)


CURRENT

PREV SESSION

DME OMAN

80.61

79.89

DME OMAN DIFF TO DUBAI

1.05

1.29

CASH DUBAI

80.55

79.55


NEWS

- U.S. crude oil and gasoline inventories last week fell more than the forecast, while distillate stockpiles rose unexpectedly, the Energy Information Administration (EIA) said on Wednesday. EIA/S

- U.S. oil demand rose to a seasonal record in May as American cars guzzled the most gasoline since before the pandemic, data from the EIA showed.



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

Brent

BRENTSGMc1

Dubai

DUBSGSWMc2

DME Oman

OQc1

Brent/Dubai EFS

DUB-EFS-1M


PRODUCT CRACKS

Fuel oil crack

FO180SGCKMc1

Gasoil crack

GOSGCKMc1

Naphtha crack

NAF-SIN-CRK

Complex refining margins

REF/MARGIN1



Reporting by Mohi Narayan;

RECENT CRUDE OIL TRADES: Asia ACRU/T Europe CRU/T Americas CRU/TU CRUDE OIL MARKET NEWS Crude oil tenders in Asia CRU/TENDA Crude oil supply outages in Asia CRU/OUT-ASIA-O Refinery outages in Asia REF/OUT-ASIA-O Global arbitrage news and flows O/CRUDEARB W.African crude imports to Asia, monthly O/WAFRICA1 REFINERY MAINTENANCE DIARIES Asia REF/A Middle East REF/ME Europe REF/E NATIONAL CRUDE IMPORT DATA Japan METI/JP1 China O/CHINA1 India O/INDIA2 S.Korea O/KOREA1 Indonesia O/INDO1-CRU CRUDE OIL INVENTORY DATA Japan O/JAPAN1 US EIA/S Europe O/EUROIL1 CRUDE OIL PRODUCTION/OILFIELD NEWS OPEC output survey OPEC/O New Africa fields AFR/NEW New projects ENERGY/NEW New Americas fields AM/NEW CRUDE OIL MARKET REPORTS Middle East CRU/MAsia-Pacific CRU/AP West Africa CRU/WAF North Sea CRU/E Asia outlook ASIA/CRU Europe outlook EUR/CRU Global futures report O/R Technicals report O/I PRICES For all Official Selling Prices OSP/O For a POLL on oil prices O/POLL NYMEX and ICE oil futures OILOIL TOCOM crude oil futures 0#JCO: Dubai, Oman swaps and spread ASIA/SWAP/CRUDE Middle East physical crude diffs CRUDE/ASIA2 Australia physical crude, Tapis swaps CRUDE/ASIA1 Asia-Pacific physical crude CRUDE/ASIA3 All Asian crude oil differentials 0#C-DIF-A All Asian crude oil outright prices 0#C-A
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