Urals diffs ease in Med, loadings revised up in Baltic
- Urals oil cargoes of 80,000 tonnes loading from Black Sea's Novorossiisk were estimated with a small premium of some 10 cents to dated Brent on Monday.
MOSCOW: Urals crude oil differentials to dated Brent eased in Mediterranean on Monday following a sharp fall in the grade's values in northwest Europe on Friday.
Urals oil cargoes of 80,000 tonnes loading from Black Sea's Novorossiisk were estimated with a small premium of some 10 cents to dated Brent on Monday, traders said, much lower than the recent market evaluations.
Urals differentials in Baltic fell to the lowest level since mid-August on Friday.
Russian Urals oil loadings from Primorsk port were increased by 100,000 tonnes in December to 2.5 million tonnes after an extra cargo was added to the plan making overall Urals loadings from Baltic ports 3.8 million tonnes next month.
One loading position of small oil producers was added to the plan for loading on Dec. 27-28. The cargo will be loaded by a trading firm Marsa and Glencore is a buyer.
Azeri BTC crude oil loading plan for January is expected on Tuesday, traders said.
PLATTS WINDOW
There were no bids or offers for Urals, CPC Blend or Azeri BTC in the Platts window on Monday, traders said. NEWS
OPEC, Russia and allies, a group known as OPEC+, are likely to hold their next meeting to set oil policy on Jan. 4, two sources close to the group said on Monday.
Russia may exempt oil produced on the Arctic Taimyr peninsula, key to the future output of energy giant Rosneft, from export duty, a finance ministry official said on Monday.
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