MALAYSIA

Malaysia's Petronas has offered 250,000 barrels of Angsi crude for loading in May through a spot tender issued on Wednesday, industry sources said.

The refiner usually sells a maximum of two cargoes of the crude grade a year as production from the Angsi field in the South China Sea off Malaysia is small, one of the sources said.

The crude has an API gravity of over 40 degrees and is similar to Malaysia's Tapis crude which is a light sweet grade, the source added.

Separately, Petronas has also issued a tender offering 350,000 barrels of Bertam crude for loading in May.

Both tenders close on March 16 and are valid until March 19.

BRENT-DUBAI EFS

Brent's premium to Dubai swaps <DUB-EFS-1M> was at $3.27 per barrel, down 5 cents for May.

NEWS

China's crude oil production in January and February fell 1.9 percent from a year ago to match a record low marked last August, data showed on Wednesday.

Many of the nation's oil fields are ageing after years of use, while high production costs are also crimping output.

Oil producers in United States have continued to add to their hedge positions for 2018, which has surpassed the historical averages due to an increase in oil futures prices, Goldman Sachs said in a note on Tuesday.

Oil major BP Plc expects more than 90 percent of the world's shipping fleet will comply with new regulations slashing sulfur levels ships are allowed to burn starting 2020, a company executive said on Tuesday.

Libya's Zawiya oil terminal returned to normal operations on Tuesday after workers who were blocking ships from docking agreed to end a one-day strike, two sources said.

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