Urals crude oil differentials to dated Brent kept stable in an opaque market, while Caspian CPC Blend eased further on offer in the Platts window, traders said.

Russia will increase oil exports via its western ports to 1.95 million barrels per day (bpd) in August, up by some 150,000 bpd from July, although high domestic demand will restrain overseas sales potential, two trade sources said on Friday.

Slovakia and Hungary on Friday rebuffed a European Commission suggestion that they could replace lost Russian oil supplies via an alternative route through Croatia saying it was too costly.

Kazakhstan will cut crude shipments via the Baku-Tbilisi-Ceyhan (BTC) pipeline to 120,000 metric tons in August from 140,000 tons in July as its giant Tengiz oilfield starts maintenance.

PLATTS WINDOW

Petroineos offered 90,000 tonnes of CPC Blend for loading over August 22-26 down to dated Brent minus $2,00 per barrel without finding a buyer.

There were no bids or offers made for Urals or Azeri BTC crude in the Platts window on Friday.

NEWS

China’s newest mega refiner Shandong Yulong Petrochemical has stepped up purchases of Russian crude oil cargoes for September arrival ahead of a planned test operation of its new plant, two trading sources said.
Source: Reuters (Reporting by Reuters; Editing by Shailesh Kuber)