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CPC March Loadings Fall to Four-Month Low

OIL

Observed flows of CPC Blend crude from the CPC terminal on Russia’s Black Sea fell to a four-month low in March, according to Bloomberg.

  • Exports totalled around 5.7m mt, or 1.45m b/d, down from 1.48m b/d in February and the lowest level since November.
  • Exports to Asia recovered however, totalling 1.25m mt of CPC, the highest monthly level since October and double February levels.
  • 257k mt were exported to China, compared to zero in February.

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