Urals diffs steady, Kazakhstan's CPC oil exports could remain restricted
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Urals crude differentials remained stable, while Kazakhstan's CPC oil exports face potential restrictions despite nearing the end of maintenance on its primary export route. The shutdown of the Tengiz field may continue to limit shipments. Indian refiners are reducing Russian oil purchases amid trade discussions, with Reliance Industries set to receive compliant Russian oil in February and March. No bids or offers were made for Urals, Azeri BTC, and CPC Blend on Wednesday, and oil from Kazakhstan's Kashagan field is being redirected to the domestic market due to terminal bottlenecks.
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