November 20, 2018 / 6:16 PM / 6 months ago

Med crude-Urals diffs stable, CPC Blend bid higher

MOSCOW, Nov 20 (Reuters) - Urals crude differentials in northwest Europe and the Mediterranean held near multi-year highs on Tuesday, while CPC Blend was bid higher.

Traders waited to see more loading dates from the December Urals loading plan.

A sharp drop in global crude prices would lower costs for Russian oil plants, and could spark domestic demand and trim Russian oil exports in December, two trade sources told Reuters.

Brent crude futures were $2.72, or 4.1 percent, lower at $64.07 a barrel. The international benchmark fell as much as 5.1 percent to $63.36, the lowest since early March.

* In the Platts window, Trafigura offered 100,000 tonnes of Urals loading from Baltic ports on Dec. 11-15 at dated Brent plus $0.05 a barrel, but withdrew. That was up by 5 cents from Trafigura’s offer on Monday.

* Petroineos bid for 85,000 tonnes of CPC Blend for Dec. 8-12 loading up to minus $1.50, up by some 30 cents from recent assessments, but found no seller.

* There were no bids or offers for Urals and Azeri BTC in the Mediterranean on Tuesday.

* Russia’s ESPO Blend crude oil exports from Kozmino port are set at 7.5 million tonnes for January-March 2019, compared to 8.05 million tonnes planned for October-December 2018, according to three industry sources.

* There is an initial agreement within OPEC to cut production at the meeting in Vienna on Dec. 6 but the amount has not been decided yet, UAE OPEC Governor Ahmed al-Kaabi said on Tuesday.

* Russian Energy Minister Alexander Novak said on Monday the country was planning to sign a partnership agreement with the Organization of the Petroleum Exporting Countries and that it would be discussed at OPEC’s Dec. 6 meeting. (Reporting by Gleb Gorodyankin Editing by Edmund Blair)

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