Urals oil diffs steady in quiet trade
Urals crude differentials to dated Brent were stable in quiet trade on Friday, while outright prices for the grade held below the price cap on weaker Brent.
The price of Russia's Urals crude oil remained $2 per barrel below the $60 per barrel limit imposed by Western nations amid weak Brent prices.
Russia intends in August and September to fully compensate for previously producing oil in excess of its OPEC+ quota, in line with the existing plan.
PLATTS WINDOW
SOCAR offered 650,000 barrels of Azeri BTC from Ceyhan over July 23-27 at dated Brent plus $3.50 per barrel, but nobody was interested.
No bids or offers were made for Urals or CPC Blend in the Platts window on Thursday.
NEWS
Saudi Arabia's energy ministry said on Friday the kingdom has been fully compliant with its voluntary OPEC+ output target, adding that Saudi marketed crude supply in June was 9.352 million barrels per day, in line with the agreed quota.
Russian mid-sized oil producer Tatneft TATN launched a new hydrocracking unit at its TANECO refinery, the company reported on Friday.
