Med Crude-Urals diffs stable, Caspian CPC Blend bid higher

MOSCOW Dec 28 (Reuters) – Urals crude oil price
differentials to dated Brent were stable on Wednesday in thin
trade after the Christmas holidays, while Caspian CPC Blend
differentials rose by 25 cents a barrel, traders said.

Planned Russian Urals crude exports from the Baltic port of
Primorsk in January were increased to 4.2 million tonnes, up by
0.1 million tonnes from the preliminary schedule, the final
loading plan, seen by Reuters, showed on Tuesday.

To see Urals crude primary allocations in the first half of
January click on

Overall exports from Baltic ports are set at 6.7 million
tonnes, or 0.3 million tonnes down from this month.

No buyers and sellers of Urals were seen in the Platts
window, Reuters sources said.

In the afternoon trading session Vitol bid for 85,000 tonnes
of CPC Blend for Jan. 14-18 at dated Brent minus $0.70 a barrel
but found no seller.

The grade was last assessed at a discount of $0.90 a barrel
to dated Brent.

In Azeri Light, SOCAR showed 600,000 barrels of the grade
for Jan. 7-11 loading at dated Brent plus $1.30 a barrel, but
there were no takers, traders said.

Libya’s oil production stood at 622,000 barrels a day (bpd)
on Monday, up slightly from levels recorded before an armed
faction agreed to lift a two-year blockade on major western
pipelines on Dec. 14, the National Oil Corporation (NOC) said on

In other news, preparations are under way to hold the first
meeting of the committee responsible for monitoring compliance
with a global agreement to cut crude production in Vienna on Jan
21-22, Kuwaiti oil minister Essam Al-Marzouq told state news
agency KUNA.

Imports of crude oil by Iran’s four main buyers in Asia in
November more than doubled for a second straight month from a
year ago, with purchases by India and South Korea more than four
times higher.

(Reporting by Gleb Gorodyankin; Editing by David Goodman)

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