Urals diffs stable, Russian oil price cap under discussion
Urals crude oil differentials remained stable again on Tuesday, while European governments struggle to agree on Russian oil price cap.
EU countries have so far failed to agree on what the price limit should be.
China is willing to forge a closer partnership with Russia on energy issues to ensure global energy security, President Xi Jinping said on Tuesday.
Moscow is seeking to bolster the recognition of Russian maritime cargo insurance to allow it to ship oil and related products abroad in the face of Western sanctions, a government official was quoted as saying on Tuesday.
The International Energy Agency expects Russian crude production to be curtailed by some 2 million barrels of oil per day by the end of the first quarter next year.
PLATTS WINDOW
No bids or offers were made for Urals, Azeri BTC or CPC Blend in the Platts window on Tuesday, traders said.
NEWS
OPEC+ is likely to keep oil output policy unchanged at a meeting on Sunday, five OPEC+ sources said.
The Caspian Pipeline Consortium (CPC) said on Tuesday that it had completed repairs on its single point mooring-2 (SPM-2).