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OIL
Caspian CPC Blend loadings are set to rise to 5.4m tons (1.42mbpd) in November according to the preliminary loading schedule.
- October loadings were recently revised up from 3.85m tons to 4.24m tons (1.08mbpd). Output has been limited due to outages at the Karachaganak and Kashagan oil fields and due to only one of three terminal moorings in operation.
- Karachaganak oil output has now resumed within planned levels and the aim is for Kashagan to resume by the end of October.
- The vessel to replace the CPC buoyancy tanks has arrived. All three mooring points at the CPC terminal were previously expected to be operational by Oct 15.
- Kazakhstan is now not planning to revise their oil output plan after the recent OPEC+ decision according to the Kazakh Energy Ministry.
Source: Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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