Urals crude differentials to dated Brent were unchanged on Friday, while CPC Blend oil loadings were revised up for February despite an expected decline in exports, the sources said.

Black Sea CPC Blend oil exports were revised up to 1.67 million barrels per day (bpd) in February’s programme from 1.42 million bpd in a previous version due to higher supply from Kazakh oilfields, two sources familiar with the loading plan said.

The sources said the latest version of the loading plan was recently confirmed with no cancellations and restrictions for Kazakh oil producers to supply oil to the CPC pipeline system recently hit by a drone attack.

It was not immediately clear if the CPC pipeline can preserve a stable flow in March and allow Kazakh oil producers to continue high exports, the sources said.

CPC Blend discounts to dated Brent narrowed slightly this week amid expectations of a decline in supply.

Most recently CPC Blend oil cargoes traded around dated Brent minus $3.50 per barrel, according to the traders.

PLATTS WINDOW

No bids or offers were shown for Urals, Azeri BTC and CPC Blend in the Platts window on Friday.

NEWS

Russia has ordered divers to inspect ships in its ports, a government letter seen by Reuters shows, after suspected attacks on four oil tankers that visited in recent weeks.

U.S. President Donald Trump’s administration is piling pressure on Iraq to allow Kurdish oil exports to restart or face sanctions alongside Iran, eight sources with direct knowledge of the matter told Reuters.
Source: Reuters