Urals crude differentials to dated Brent held steady on Friday, while oil loadings from Russia’s Primorsk, Novorossiisk and Ust-Luga including Urals, Kazakh KEBCO and Siberian Light grades are seen falling in July from the current month.

Russia’s daily oil exports from its western ports are set to be around 1.93 million barrels per day in July, down by some 3% from June’s plan on a daily basis, amid expected rise in refinery runs, sources said and Reuters calculations showed.

The world’s largest group of oil producers, OPEC+, is set to announce another big increase of 411,000 barrels per day in production for August as it looks to regain market share, four delegates from the group told Reuters.

PLATTS WINDOW

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NEWS

Kazakhstan’s Tengizchevroil (TCO) exported its first oil to Germany last month via Russia’s Druzhba pipeline, supplying 100,000 metric tons, two industry sources told Reuters, as the venture ramps up production.

The United States has postponed sanctions against the Russian-owned Serbian oil company NIS for a fourth time until July 29, the country’s mining and energy minister Dubravka Djedovic Handanovic said on Friday.
Source: Reuters