OIL MARKETS

Urals Needs Deeper Discount to Woo Refiners

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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.

Topics:
Crude Oil, Oil Spot Markets, Oil Prices
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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