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Crude:

Crude closed higher as traders closing out positions to end the year.

OPEC crude output was steady this month as the 12-member group abandoned its usual production target. The Organization of Petroleum Exporting Countries increased production by 18,000 barrels to 32.139 million a day this month, according to a Bloomberg survey of oil companies, producers and analysts.

OPEC set aside its output target of 30 million barrels a day at its Dec. 4 meeting in Vienna. Saudi Arabia has led the group in fighting for market share against higher-cost producers such as shale drillers in the U.S.

The group will have 13 members starting Friday with the return of Indonesia. The Southeast Asian nation’s membership will officially be reactivated after a seven-year suspension, and will be the only net-importing country in the producer group.

Bunker Market:

Market firm in line with crude/paper. Big gap in prices due to market visions among suppliers.

Dutch time: 11.35 hrs

Fuel oil RMG 380 HS: 3.5%: USD 139-144

Marine Gas Oil DMA .89/ LS 0.1%: USD 310-316

ULS fuel oil: USD 280-285.