Urals Needs Deeper Discount to Woo Refiners

Copyright © 2023 Energy Intelligence Group All rights reserved. Unauthorized access or electronic forwarding, even for internal use, is prohibited.

Urals crude is under pressure after Saudi Arabia cut its November official selling prices to the Mediterranean and Northwest Europe. As a result, Russia's flagship, medium-sour export grade must compete with an already-sizable export program, the largest in 18 months.

Crude Oil, Oil Spot Markets, Oil Prices
Wanda Ad #2 (article footer)
A significant delay would have a fairly modest impact on spreads, as crude oil transportation capacity in Canada has expanded in recent years.
Thu, Sep 21, 2023