Med crude-Urals diffs stable, Turkish refiner Tupras resumes buying Russian crude
MOSCOW, April 16 (Reuters) - Russian Urals crude oil differentials remained stable on Wednesday, while Turkey's largest oil refiner Tupras has returned to buying cargoes of the grade after it stopped doing so earlier this year due to stronger U.S. sanctions on Moscow, according to three trading sources and shipping data.
The three sources said Tupras resumed its purchases after prices for Urals crude fell to their lowest levels since 2023 earlier this month, dropping comfortably below a G7 price cap level of $60 a barrel.
The Organization of the Petroleum Exporting Countries has received updated plans for Iraq, Kazakhstan and other countries to make further oil output cuts to compensate for pumping above agreed quotas, the group said on Wednesday.
PLATTS WINDOW
No bids or offers were shown for Urals, CPC Blend and Azeri BTC in the Platts window on Wednesday.
NEWS
Oil prices rose more than $1 a barrel on Wednesday on concerns about global supplies after Washington issued new sanctions targeting Chinese importers of Iranian oil, including against a China-based "teapot" oil refinery, as President Donald Trump's administration seeks to ramp up pressure on Tehran.
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