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CPC Crude Exports to Decline 12% MoM in May on Tengiz Works

OIL

CPC blend crude oil exports are set to decline to around 4.9mn tons in May, compared with 5.4mn tons planned for April due to planned maintenance on the Tengiz oilfield, sources told Reuters.

  • CPC Blend oil exports are expected to decline 12% month on month in May on a daily basis.
  • The expected decline in exports has already supported prices of CPC Blend oil cargoes loading next month, the sources added.
  • Kazakhstan’s Tengiz oilfield is set to go under scheduled maintenance in May according to tis operator Tengizchevroil. “The work will involve one of TCO’s six production trains at Tengiz,” it said but it is not clear how it will impact output.
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