The rough difference in Ural for the Brent date is stable on Wednesday, while the discount for BPK mixed oil widen to the lowest level in two years after the agreement during the afternoon trading session, traders and LSEG data showed.
Russian crude oil exports from its western port in February will drop by 8% versus January’s plan because Moscow increases purification, two traders said and the calculation of Reuters showed, after the latest US sanctions squeeze raw exports.
Oil exports as a whole in February from the Port of Western Primorsk, Ust-Luda and Novorossiq were seen at 1.6 million barrels per day (BPD), down from 1.73 million BPD in January’s plan, Reuters calculations showed.
Traders said that the weaker price level for the BPK mixture was seen because of the expected increase in supply next month.
The initial BPK mixed oil export plan is 1.42 million barrels per day for February, but can be revised upward, said the trader.
Plate window
Mercuria sold 85,000 metric tons of BPK mixed oil loading on February 17-21 on Brent minus $ 4.60 per barrel to the Gunvor trading company, under the estimated class recently.
No offer or offer is displayed for Ural and Azeri BTC in the platts window on Wednesday.
NEWS
Kazakhstan will make a final decision regarding the cutting of oil production after the next OPEC+ meeting, the Minister of Energy of Central Asia said Almasadam Satkaliyev on Wednesday.
Ukraine said on Wednesday that his party had crashed into a large Russian oil refinery in a drone attack last night, and a Russian official said the efforts to strike Ukraine drones in a nuclear power plant had been thwarted.
Source: Reuters
