Exxon sells 2016 Upper Zakum crude at higher premium from yr ago

SINGAPORE: ExxonMobil has sold 2016 supplies of Upper Zakum crude to at least one buyer via a tender at a slightly higher premium than a year ago, trade sources said on Monday.

The producer has sold a 500,000-barrel cargo for each month next year to a Japanese trading company at 15-20 cents a barrel above its official selling price, they said.

Last year, Exxon sold annual supplies of the grade at a premium of about 15 cents a barrel, one of the sources said.