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Urals diffs unchanged, CPC Blend oil exports set to rise in June

Posted to Maritime Reporter on May 24, 2024

Urals petroleum differentials were the same to outdated Brent on Tuesday, while CPC Blend oil exports were set to rise in June, sources stated.

* Black Sea CPC Blend oil exports through the Caspian Pipeline Consortium (CPC) pipeline system are set to increase to about 5.3 million metric loads in June from the 4.9 million planned for May, 2 sources acquainted with the matter stated.

* Daily the grade's loadings will increase by nearly 12% next month from May, Reuters calculations showed.

* Higher exports planned for the next month put pressure on the grade's values, traders said.

PLATTS WINDOW

* Austria's OMV bought 85,000 metric lots of CPC Blend for packing on June 10-14 from Overall at outdated Brent minus $4 per barrel, lower than recent quotes of the grade. Traders said that timely loading dates of the cargo put additional pressure on its rate.

* No quotes or offers were produced Urals and Azeri BTC crude in the Platts window on Tuesday.

NEWS

* India's Russian oil imports increased to a nine-month high in April after shipments on non-sanctioned tankers run by Russia's. largest shipping business Sovcomflot resumed, tanker data. gotten from shipping and trade sources revealed.

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