Med crude-Urals diffs stable as oil slumps on Trump tariffs, OPEC+ boosting output

MOSCOW, April 3 (Reuters) - Urals crude differentials were steady on Thursday, while outright prices for the grade fell following slump in Brent on Trump tariffs and OPEC+ boosting output.

Eight OPEC+ countries unexpectedly agreed on Thursday to advance their plan to phase out oil output cuts by increasing output by 411,000 barrels per day in May, a decision that prompted oil prices to extend earlier sharp losses.

Oil loadings from Russia's western ports over April 1-8 are set to rise by around 90,000 barrels per day (bpd) versus the same period in March to reach some 1.7 million bpd, the data provided by trade sources and Reuters calculations showed.

The Western-backed Caspian Pipeline Consortium is preparing to challenge in a Russian court a regulatory order that has crippled its exporting capabilities and threatened to cut oil flows to global markets, three industry sources told Reuters.

PLATTS WINDOW

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

NEWS

• Russia's oil and gas revenue declined by 17% in March to 1.1 trillion roubles ($13 billion) from the same month a year ago, finance ministry data showed on Thursday.

• Kazakhstan supplied 150,000 metric tons of oil to Germany via the Druzhba pipeline system in March, Russian news agency Interfax reported, citing Kazakhstan's pipeline company Kaztransoil.