SINGAPORE, July 2 (Reuters) - Middle East crude benchmark Dubai's discount slipped on Thursday to its widest since May 2020, weakening on signs of a further increase in supplies, while Oman's discount also widened sharply day-on-day.

Saudi Aramco is switching to spot pricing to speed sales in Asia, according to trade sources and shipping data. The major oil exporter had resumed loadings from Ras Tanura last week after a hiatus of nearly four months.

One of the sources said 6 million barrels of July-loading crude have been offered to Saudi Aramco's usual Asian customers.

Meanwhile, OPEC+ oil-producing countries will likely agree a further hike in their output targets from August when they meet on Sunday, sources said, adding to supply at a time of falling prices as the Strait of Hormuz gradually reopens

Broader oil markets fell further on Thursday, with both Brent and WTI extending declines after Qatar said Iran and the U.S. had made progress in talks over the Strait of Hormuz. O/R

SINGAPORE CASH DEALS

Cash Dubai's differential to swaps fell $1.37 to a discount of $4.18 a barrel.

SELLER-BUYER	PRICE ($/BBL)
VITOL-TRAFIGURA*	63.70
VITOL-TRAFIGURA*	63.70
VITOL-TRAFIGURA*	63.70
VITOL*-TRAFIGURA	63.50
VITOL*-TRAFIGURA	63.50
VITOL*-TRAFIGURA	63.50
VITOL*-TRAFIGURA	63.50
VITOL*-TRAFIGURA	63.50
VITOL*-TRAFIGURA	63.50
VITOL*-TRAFIGURA	63.50
VITOL*-TRAFIGURA	63.50
VITOL*-TRAFIGURA	63.50
VITOL*-TRAFIGURA	63.40
VITOL*-TRAFIGURA	63.40
VITOL*-TRAFIGURA	63.40
MERCURIA*-TRAFIGURA	63.30
VITOL*-TRAFIGURA	63.30

PRICES ($/BBL)

	CURRENT	PREV SESSION
GME OMAN	63.41	67.07
GME OMAN DIFF TO DUBAI	-4.07	-2.03
CASH DUBAI	63.30	66.29

REFINERY

China's Hengli Petrochemical, sanctioned by the U.S. for allegedly buying Iranian oil, has cancelled recent purchases of non-Iranian crude, five trade sources said, forcing the firm to cut refinery operations further as inventory runs low.

NEWS

Venezuela's oil exports fell slightly to 1.2 million barrels per day last month from 1.24 million bpd in May as two deadly earthquakes caused minor delays at terminals operated by state-run energy company PDVSA, according to data based on tanker monitoring and company documents.

U.S. crude stocks fell to their lowest last week since 2018 as domestic refinery demand rose, while gasoline inventories also fell ahead of the July 4 holiday weekend, the Energy Information Administration said on Wednesday.

India's gasoline and diesel sales continued to rise in June, according to preliminary data from the Petroleum Planning and Analysis Cell of the federal oil ministry.

Kuwait Petroleum Corporation is asking some global funds bidding for a $7 billion stake in its oil pipeline network to recruit other investors to help consolidate the string of firms that lodged bids, three sources familiar with the matter told Reuters.

Kazakhstan has agreed to supply 50,000 metric tons of gasoline to Russia in July and August as humanitarian aid, four industry sources said.

For crude prices, oil product cracks and refining margins, please click on the RICs below.

Brent	BRENTSGMc1
Dubai	DUBSGSWMc2
GME Oman	OQc1
Brent/Dubai EFS	DUB-EFS-1M
PRODUCT CRACKS
Fuel oil crack	FO180SGCKMc1
Gasoil crack	GO10SGCKMc1
Naphtha crack	NAF-SIN-CRK
Gasoline crack	GL92-SIN-CRK
Complex refining margins	REF/MARGIN1