Med crude-Urals diffs stable, Russian refinery runs up

Kitco Media
By Reuters
Published:
Updated:
Reuters
MOSCOW, April 26 (Reuters) - Urals crude oil differentials to dated Brent remained unchanged again on Wednesday, while Russia's refinery runs increased this year compared to the same period of 2022, according to Reuters sources.


* In March and in April this year Russia's oil refinery runs are seen significantly higher than during the same period last year, Reuters calculations showed.
* In April several refiners decided to delay routine work on the plants for a couple of months to cash in on good margins, the sources said.
* Works on refineries postponed from April to May suggest additional idle refining capacity to emerge next month, which may lead to an increase in Urals oil exports, traders said.
* Oil loading plans from Russia's western ports of Primorsk, Ust-Luga and Novorossiisk in May are yet to emerge. PLATTS WINDOW
* No bids or offers were made for Urals, Azeri BTC or CPC Blend in the Platts window on Wednesday, traders said. NEWS
* Oil prices have fallen back after a brief spike triggered by the surprise production cuts announced by Saudi Arabia and other members of OPEC+ on April 2.
* U.S. crude oil and gasoline inventories fell more than expected last week, as demand for the motor fuel picked up ahead of the peak summer driving season, Energy Information Administration data showed on Wednesday. (Reporting by Reuters;)

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