RUSSIAN OIL Private Indian refiners are jostling with independents in China for Russian ESPO crude loading in April, pushing prices higher after Moscow lowered exports of its flagship grade Urals, industry sources said. China, which is set to import record volumes of Russian crude in March, typically sweeps up all of the ESPO crude exported from the Pacific port of Kozmino due to close proximity while sanctions on Russian oil have shrunk the pool of buyers. However, for April, Indian refiners Reliance Industries Ltd and Nayara Energy have snapped up at least five of the about 33 ESPO crude cargoes due to low prices, four people familiar with the matter said.
SINGAPORE CASH DEALS
Cash Dubai's premium to swaps dipped 13 cents to $1.86 a
barrel. Unipec will deliver one May-loading Upper Zakum cargo to
PetroChina following the trade.
Seller-Buyer Price
UNIPEC-TOTAL 81.80
RELIANCE-TOTAL 81.80
EXXONMOBIL-TOTAL 81.80
BP-PETROCHINA 81.80
UNIPEC-TOTAL 81.76
KOCH-PETROCHINA 81.80
TRAFIGURA-TOTAL 81.79
UNIPEC-PETROCHINA 81.79
UNIPEC-TOTAL 81.79
EQUINOR-TOTAL 81.79
UNIPEC-PETROCHINA 81.79
UNIPEC-TOTAL 81.79
PHILLIPS 66-PETROCHINA 81.79
BP-TOTAL 81.78
UNIPEC-TOTAL 81.79
RELIANCE-PETROCHINA 81.79
EXXONMOBIL-TOTAL 81.80
UNIPEC-MERCURIA 81.79
BP-TOTAL 81.78
RELIANCE-PETROCHINA 81.79
UNIPEC-TOTAL 81.79
UNIPEC-TOTAL 81.79
EXXONMOBIL-TOTAL 81.78
RELIANCE-PETROCHINA 81.79
EXXONMOBIL-TOTAL 81.80
PRICES ($/BBL)
CURRENT PREV SESSION
DME OMAN 81.81 82.04
DME OMAN DIFF TO DUBAI 1.88 2.07
CASH DUBAI 81.79 81.96
NEWS A group of bipartisan U.S. senators on Wednesday said they have reintroduced legislation to pressure the OPEC oil production group to stop making output cuts. Enormous challenges remain across global energy markets in the wake of the war in Ukraine, U.S. Energy Secretary Jennifer Granholm said on Wednesday, citing continued risks for energy security and the need to mitigate climate change. Barclays cut its 2023 oil price forecasts on Wednesday, due in part to more resilient output from Russia than expected, and said the market could flip into a deficit in the second half of the year due to growing demand in China. Azeri BTC crude oil exports from Turkey's Ceyhan port have been set at 18.43 million barrels for April, up from 15.92 million barrels in March, the schedule showed on Wednesday.
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