SINGAPORE, June 7 (Reuters) - The Asia-Pacific crude market slipped on Thursday, with Malaysian Kimanis crude oil grades trading at lower levels for July-loading cargoes, trade sources said.
MALAYSIA
* A July-loading Kimanis crude oil cargo likely sold at a premium of about $3.30 a barrel to dated Brent, trade sources said, though this could not be immediately confirmed.
ConocoPhillips (NYSE:COP) last sold a July-loading Kimanis cargo at a premium of about $3.60 to $3.70 a barrel to dated Brent, traders have said.
* Malaysian state oil firm Petronas has set the June price factor for Malaysian Crude Oil (MCO) at $3.90 a barrel, up 10 cents from the previous month, according to a company document. Indonesia's Pertamina may have bought an Alba condensate cargo for delivery in August, a trader said, though this could not be confirmed with the company.
It was not immediately clear why Pertamina did not purchase a North West Shelf condensate cargo, which is what it usually buys.
Pertamina had also re-issued a tender seeking condensate but adjusted the delivery dates to show only July instead of July to August in the initial tender.
The arrival of arbitrage cargoes is pressuring down the differential for Asia-Pacific crude oil grades, a second trader said.
Singapore received about 16,000 tonnes of Libyan condensate in the week to June 6, according to data from the International Enterprise released on Thursday.
BRENT-DUBAI EFS
* Brent's premium to Dubai swaps DUB-EFS-1M was at $3.45 per barrel for August.
NEWS
* U.S. crude oil stockpiles rose unexpectedly last week even as refineries hiked output to the highest in five months, while gasoline stocks increased sharply as demand eased, the Energy Information Administration said on Wednesday. U.S. crude exports surged to a record 1.76 million barrels per day (bpd) in April from 1.67 million bpd in March thanks to the rising discount for U.S. crude versus the global benchmark, foreign trade data from the U.S. Census Bureau showed on Wednesday. Malaysia's government has allocated 3 billion ringgit ($760 million) to subsidise pump prices till the end of 2018, the finance ministry said in a statement on Thursday. Venezuela is nearly a month behind in shipping crude to customers from its main oil export port, according to Reuters data, as chronic delays are compounding production declines and could breach state-run PDVSA's crude supply contracts if they are not quickly cleared. India's oil minister said on Wednesday Saudi Arabia and other OPEC producers are "revisiting" their output-cutting policy, referring to a discussion he had with his Saudi counterpart. Global oil demand could peak in the early 2020s if countries pull together to hit climate goals, or keep growing until 2050 in a conflict-ridden world, according to Norwegian oil and gas firm Equinor. Vietnam's second oil refinery Nghi Son, which is expected to be fully operational by early August, will export its first petrochemical products later this month, the plant's chief executive officer told Reuters on Thursday. crude prices, oil product cracks and refining margins, please click on the RICs below.
Brent
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Dubai
DUBSGSWMc2
Brent/Dubai EFS
DUB-EFS-1M
PRODUCT CRACKS
Fuel oil crack
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Gasoil crack
GOSGCKMc1
Naphtha crack
NAFOBSGCKMc1
Complex refining margins REF/MARGIN1