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Med crude-Urals diffs stable, drone strike hits Ryazan refinery

ReutersFeb 24, 2025 6:08 PM

- Urals crude differentials to dated Brent kept steady on Monday, while Russia's Ryazan oil refinery has suspended operations after an attack by Ukrainian drones on Monday.

The main crude distillation unit at the refinery, CDU-6 with a capacity of some 170,000 bpd, caught fire in the attack and the plant has fully suspended oil processing, the sources said.

Lower refinery throughput may result in more crude oil available for exports and revisions to loading plans.

Traders tried to estimate March export volumes for Russian Urals oil, but the figures were yet to emerge.

PLATTS WINDOW

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

NEWS

  • Iraq is waiting for Turkey's approval to restart the oil flows from the Iraqi Kurdistan region, the Iraqi oil minister said on Monday, adding that Kurdish oil exports will hopefully be ready in two days.

  • Iraq reaffirmed its commitment to the OPEC+ agreement on Monday and said it would present an updated plan to compensate for any overproduction in previous periods, according to a statement from the Iraqi oil ministry.

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