Med crude-Urals differentials stable in quiet trade

Kitco Media
By Reuters
Published:
Updated:
Reuters
MOSCOW, March 22 (Reuters) - Russian Urals crude oil differentials to dated Brent were unchanged on Wednesday with a lack of public trading activity.
* Traders were waiting for Urals oil loading dates for early April, while demand for cargoes of the grade remained steady, traders said.
* India, China and Turkey are expected to be the biggest buyers of Urals seaborne cargoes in April, traders said.
* A plunge in Brent crude prices has narrowed the spread between Atlantic Basin and Middle East benchmarks but has failed to spur interest from Asian refiners, which are instead buying up discounted Russian oil, leaving an overhang in African supply. PLATTS WINDOW
* No bids or offers were made for Urals, Azeri BTC or CPC Blend in the Platts window on Wednesday, traders said. NEWS


* Lukoil, Russia's largest private oil company, is planning to enter the retail fuel market in neighbouring Kazakhstan by launching a franchisee project, four sources familiar with the matter told Reuters.
* OPEC+ is likely to stick to its deal on output cuts of 2 million barrels per day (bpd) until the end of the year, even after a banking crisis sent crude prices plunging, three delegates from the producer group told Reuters.
* Germany has started looking for investors for the transformation of the PCK Schwedt refinery site, the German economy ministry said on Wednesday. (Reporting by Reuters; Editing by Kirsten Donovan)

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