Med crude-Urals diffs steady, freight rates stall for Asia-bound cargoes

Urals crude differentials to dated Brent remained stable on Friday, as November-loading cargoes of the grade changed hands via private negotiations, market sources said.

Freight rates for tankers carrying Russia’s flagship Urals crude from its Baltic ports to India have stalled on expectations of declines in oil exports from Moscow’s western ports in November, trading and shipping sources said.

PLATTS WINDOW

No bids or offers were shown for Urals, Azeri BTC or CPC Blend in the Platts window on Friday.

NEWS

Russia and Kazakhstan are reaffirming their full commitment to the OPEC+ agreement, as well as to compensating for excess oil production according to updated schedules to be submitted to the OPEC Secretariat, the office of Russia’s Deputy Prime Minister Alexander Novak said on Friday.

Kazakhstan’s average daily oil output in October was down 20% from September.
Source: Reuters (Reporting by Reuters; Editing by Alexander Smith)