Middle East Crude-Heavies down as Saudi ups supplies

SINGAPORE, Nov 10 (Reuters) - The Middle East medium and
heavy crude market continued to fall on Tuesday after more Asian
buyers of Saudi crude said they would receive higher crude
supplies for December, especially for heavier Saudi grades.

* SUPPLIES

- Saudi Arabia increased crude supply to oil firms with
global systems, and told a few big and small Asian customers
they would also receive full contracted volumes for December.
[ID:nT217458]

The supply increase may weaken sentiment for rival heavier
grades such as Qatari al Shaheen and Marine crudes, as well as
Bahrain's Banoco Arab Medium crude, which have got a boost in
recent months from the cuts.

* QATAR CONDENSATE EXPORT TO RISE

- Qatar will export about 450,000 barrels per day (bpd) of
condensates by the end of 2010, the chief executive of the Qatar
International Petroleum Marketing Co, also known as Tasweeq,
said on Tuesday.

Qatar currently exports around 17 to 18 cargoes of
condensate monthly and the higher export volumes are likely to
pressure prices, trader said.

* OSPs

- Iraq has cut the official selling price of its Basra Light
crude loading in December to customers in Asia. The December
price for Asian buyers was a discount of 15 cents a barrel to
the average of Oman/Dubai quotes, down 15 cents from parity in
November. [ID:nSP436355]

- Yemen has set the Masila crude official selling price
(OSP) for January at 77 cents a barrel above dated Brent, steady
from December, a trader said.

But it cut the OSP of Marib Light crude for January to 12
cents a barrel above dated Brent, down 24 cents from a 36-cent
premium for December.[ID:nSP481275]

* OMAN ASSESSMENTS

- January Oman traded on the Dubai Mercantile Exchange (DME)
was assessed at a $1.08 premium to Dubai swap quotes at 0830
GMT, down 10 cents from Monday, according to Reuters
calculations.

* EFS

- The January Brent/Dubai Exchange of Futures for Swaps
(EFS) was valued near 45 cents a barrel, down from around 50
cents on Monday.

* MARKET NEWS

- World energy consumption will rise rapidly over the next
20 years, pushing up costs and increasing greenhouse gases,
unless a deal is reached to curb carbon dioxide emissions, the
International Energy Agency (IEA) said on Tuesday.
[ID:nLAE000066]

- China's appetite for oil will accelerate in 2010, an
executive with top Asian refiner Sinopec Corp said on Tuesday,
pointing to a growing need for imports by the world's No. 2 oil
user.[ID:nPEK299749]

* CRACK SPREADS

- The gas oil crack spread rose 24 cents from Monday to
$7.68 a barrel above Dubai swaps. <SWAPS/SG1>

- The fuel oil spread was up 12 cents to $4.81 a barrel
below Dubai swaps.

* OUTRIGHT PRICES

-December ICE Brent LCOc1 rose to $77.18 a barrel at 0830
GMT, up 4 cents from Asia's close a day ago. [O/R]

-January Oman OQc1 rose 8 cents to settle at $77.66.
(Reporting by Judy Hua)