March 19, 2020 / 6:03 PM / 11 days ago

Med crude-Urals diffs unchanged in quiet trade

MOSCOW, March 19 (Reuters) - Urals differentials were unchanged in quite trade on Thursday as buyers awaited more loading days for April to be released.

* Russia plans to boost its crude oil exports and transit via Transneft pipelines in April-June by 1.4% from the previous three months to 64.595 million tonnes, according to a quarterly schedule reviewed by Reuters.

* Market participants expected refreshed demand for April Urals cargoes as European buyers considered turning away from Middle Eastern barrels after freight rates surged.

* Saudi Arabia and Iraq have said they are unable to provide freight rebates for crude oil shipments under default contract terms due to a record rise in tanker rates, documents seen by Reuters showed.

PLATTS WINDOW

* There were no bids or offers for Urals, CPC Blend or Azeri BTC in the Platts window, traders said.

RELATED NEWS

* U.S. President Donald Trump said he would get involved in the oil price war between Saudi Arabia and Russia at the appropriate time, saying low gasoline prices were good for U.S. consumers even as they were hurting the industry.

* Saudi Aramco will continue reducing operations at its local refineries in April and May to boost the state energy company’s potential to export crude oil, a company official said. (Reporting by Olga Yagova; editing by David Evans)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below