A December Oman cargo was believed to have been traded recently at a premium of seven cents per barrel above the official selling price (OSP), the highest premium the December medium crude has so far fetched, traders said.

A Japanese trader was believed to have sold 500,000 barrels to either China or South Korea at a premium of four cents.

A second Japanese trader was believed to have sold 500,000barrels at a premium of five cents to a Japanese refiner.

The Japanese trader was also rumoured to have purchased 500,000 barrels from a Western trader at MOG plus six cents, and later to have resold the cargo to a Japanese refiner at MOG plus seven cents.

One other deal done between a European oil company and a US major was thought to have been done at a premium of five cents.

With the recent flurry of deals done, the majority of Oman cargoes werebelieved to have been placed.

In December Abu Dhabi crude grades, a European major was rumoured to have sold 500,000 barrels of Murban to a Japanese refiner at ADNOC plus seven cents, up from earlier deals done at parity to the OSP.

The same major was believed to have sold a December Qatar Marine cargo to a US major, although the level of the deal was not immediately available.

A European equity holder was believed to be in possession of the last few uncommitted Abu Dhabi crude cargoes.

In the Asian crude market, Japanese traders appeared to be mostly relaxed despite the surprise cut in Chinese Daqing crude supplies.

There were no immediate reports of moves to try to cover sudden requirements following the announcement, Japanese traders said.