Urals crude differentials were stable on Friday, trading and shipping sources said, while Russia has suspended about two-thirds of its Urals oil loadings from its sea ports.

There will be no shipments from Primorsk, the major Urals oil export port in the Baltic, over the Dec. 13-18 period due to scheduled maintenance, the traders said and LSEG data showed.

Oil loadings from Russia’s Black Sea port of Novorossiisk and from a terminal of the Caspian Pipeline Consortium (CPC) have been suspended since Dec. 15 due to a storm.

Two U.S. Treasury Department officials will head to Europe next week to discuss enforcing the price cap on Russian oil with government officials and private business leaders.

PLATTS WINDOW

There were no bids or offers for CPC Blend, Azeri BTC or Urals oil in the Platts window on Friday.

NEWS

Russia’s crude oil and most oil products export duty will be nullified starting from January next year in line with the so-called government’s “tax manoeuvre”.
Source: Reuters (Reporting by Reuters; Editing by Alexander Smith)