Russia’s daily oil exports from its western ports are set to rise by some 100,000 barrels per day to 1.97 million bpd in April from March as the impact of seasonal domestic refinery maintenance outweighs output cuts under an OPEC+ agreement, Reuters calculations based on data from three sources showed. According to the data, exports and transit of Urals, Kazakh KEBCO and Siberian Light oil from Primorsk, Novorossiisk and Ust-Luga will increase by some 5% in April compared to March. The sources said the growth in shipments next month will…
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Asia’s sour crude demand set to rebound late second quarter, support Mideast prices
SINGAPORE: Asia’s sour crude demand is set to rebound from late in the second quarter as refiners return from maintenance and Exxon Mobil completes a Singapore refinery upgrade that is poised to increase its heavy oil use, traders and analysts said. The rise in demand from some of the world’s top oil importers led by China will support Middle East benchmarks Dubai and Oman despite the prospect of more supply from OPEC+ after the group agreed to increase production from April. “After weaker-than-expected imports from China for the beginning of…
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