Middle East Crude-Benchmarks slip; ESPO premiums fall – ZAWYA

Middle East Crude-Benchmarks slip; ESPO premiums fall – ZAWYA

SINGAPORE- Middle East crude benchmarks Oman and Dubai slipped on Monday as supply outweighed demand for cargoes loading in March ahead of seasonal refinery maintenance in Asia.. Most Middle East crude cargoes are selling at discounts to their official selling prices (OSPs) this month as Asia's demand faltered.. It sold a Murban cargo to PetroChina at 65 cents per barrel below its official selling price.. Japanese refiner Fuji Oil has bought three medium-sour crude cargoes from the Middle East for loading in March, traders said.. Chinese refiners typically slow down crude purchases before the Lunar New Year, while refining margins have weakened, one of the sources said.. India shipped in 2.68 million barrels per day (bpd) oil from the Middle East in 2019, down about 10% from 2018, and around 1.8 million bpd from elsewhere, the data reviewed by Reuters showed..