MOSCOW: Urals crude differentials in northwest Europe rose on Monday on limited availability of the grade in December, while regional demand for Russia's key export blend remains strong, traders said.
In the Platts window Statoil bid for 100,000 tonnes of Urals for loading in the Baltic on Dec. 14-18 up to minus $0.60 a barrel to dated Brent without finding a seller.
Trafigura offered a similar cargo for Dec. 25-29 loading at minus $0.50 a barrel, but found no interest.
There were no bids and offers for Urals, Azeri BTC, CPC Blend and Siberian light in the afternoon trading session.
Russian oil output stood at 10.94 million barrels per day (bpd) in November, up from 10.93 million bpd in October, Energy Ministry data showed on Saturday.
CPC Blend exports via the CPC pipeline in November rose to 5.0 million tonnes from 4.645 million tonnes to reach a new all-time high, the pipeline consortium said.
Comments
Comments are closed for this article.