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Med crude-Urals diffs steady, Kazakh oil output down in early April

ReutersApr 14, 2025 6:02 PM

- Urals crude oil differentials kept stable, while Kazakhstan's oil output fell in the first two weeks of April by 3% from the March average, Kazakh energy ministry said on Monday.

The Central Asian country's crude production, excluding gas condensate, was down in April 1-13 from the March average at about 1.82 million barrels per day due to a decrease at the Chevron-led Tengiz field, Reuters source said, speaking on condition of anonymity due to the sensitivity of the matter.

OPEC cut its 2025 global oil demand growth forecast on Monday, citing the impact of data received for the first quarter and trade tariffs announced by the U.S., and also reduced its global economic growth forecasts for this year and next.

PLATTS WINDOW

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

NEWS

  • The Russian government has ordered a one-year extension of the suspension of publication of statistics on oil, gas and condensate, a document published on the official governmental website showed on Monday.

  • A German court will weigh a request to release a seized oil tanker that is believed to be part of a so-called shadow fleet used by Russia to circumvent oil sanctions, Germany's finance ministry said on Monday.

  • The Caspian Pipeline Consortium (CPC) increased daily oil pumping in March by 0.6% from February to 6.602 million metric tons (1.69 million barrels per day).

  • Russia, the world's second biggest oil exporter and the second largest natural gas producer, sees stable crude production and significant growth in natural gas production and exports over the next quarter century, according to its new energy strategy.

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