Med crude-Urals diffs stable, rising demand from China adds support

Kitco Media
By Reuters
Published:
Updated:
Reuters
MOSCOW, Feb 17 (Reuters) - Urals crude oil differentials to dated Brent were stable again on Friday, while rising demand in China provided support to Russia's flagship blend, traders said.
* China's commerce ministry has met independent oil refiners to discuss their deals with Russia, five sources with knowledge of the matter said, imports which have saved Chinese buyers billions of dollars.
* Russian oil producers expect to maintain current volumes of crude oil exports, despite the Russian government's plan to cut oil output in March, the Vedomosti newspaper said on Friday, citing sources familiar with companies' plans.
* Kazakhstan will supply 100,000 tonnes of oil via Russia's Druzhba pipeline to Germany in March for the PCK Schwedt refinery after it agreed commercial and legal terms with all parties involved. PLATTS WINDOW
* No bids or offers were made for Urals, Azeri BTC or CPC Blend in the Platts window on Friday, traders said. NEWS
* India's Russian oil imports climbed to a record 1.4 million barrels per day (bpd) in January, up 9.2% from December, with Moscow still the top monthly oil seller to New Delhi, followed by Iraq and Saudi Arabia, data from trade sources showed.
* Russia's decision to cut crude oil production by 500,000 barrels per day reflects its inability to sell all of its oil, Ben Harris, a U.S. Treasury Department Assistant Secretary, said on Thursday. (Reporting by Reuters; Editing by Kirsten Donovan)
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