Traders are also awaiting Russian tenders for price direction. Gazprom might have sold its ESPO cargo loading on May 3-13 at $3.50 a barrel above Dubai quotes, a slightly higher premium than the $3.20-$3.40 a barrel seen in a Surgut tender last week.

UAE: Abu Dhabi National Oil Company (ADNOC) said on Sunday it had signed 40-year agreements with France's Total, awarding the company a 20 percent stake in the Umm Shaif and Nasr concession and a 5 percent interest in the Lower Zakum concession.

IRAQ: The head of Iraq's state-oil marketer SOMO said on Sunday that Iraq will seek to corner a greater share of Asian markets through a new joint venture strategy.

In one of several deals announced on Sunday, Alaa al-Yasiri announced a profit-sharing deal with China's state-run Zhenhua Oil to help market Iraqi crude to Chinese refineries.

"The deal we signed with Zhenhua is only a starting point that will pave the way for more deals and joint ventures with other Asian companies from Japan, India, China and Korea," Yasiri said.