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OIL: Caspian CPC Blend Shipments Fall in Sept. Before Further Drop in Oct.

OIL
BulletEnergy BulletsCommodities

Caspian CPC Blend crude shipments from the terminal near Novorossiysk fell from 1.3mb/d in August to the lowest since October 2022 at 1.15mb/d in September, according to Bloomberg ship tracking.

  • Liftings were down to 4.36m tons amid maintenance at Karachaganak and are likely to fall further in October due to maintenance at the giant Kashagan field.  Kashagan is due to start 38 days of planned maintenance on Oct. 3.
  • The CPC Blend deliveries to Mediterranean will fall to 2.88m tons from 3.35m tons for August while Asia loadings of about 611k tons compare to 264k tons in August and 904.5k tons for July.
  • October CPC Blend oil loadings from Russia's Black Sea port of Yuzhnaya Ozereyevka are expected at around 1.1mb/d – down around 17% from September.
  • Black Sea CPC Blend oil has firmed to 7-year record premium against dated Brent due to a fall in October supply traders said to Reuters.
  • Kazakhstan will compensate for some previous OPEC+ quota over-production during the outage.  
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Caspian CPC Blend crude shipments from the terminal near Novorossiysk fell from 1.3mb/d in August to the lowest since October 2022 at 1.15mb/d in September, according to Bloomberg ship tracking.

  • Liftings were down to 4.36m tons amid maintenance at Karachaganak and are likely to fall further in October due to maintenance at the giant Kashagan field.  Kashagan is due to start 38 days of planned maintenance on Oct. 3.
  • The CPC Blend deliveries to Mediterranean will fall to 2.88m tons from 3.35m tons for August while Asia loadings of about 611k tons compare to 264k tons in August and 904.5k tons for July.
  • October CPC Blend oil loadings from Russia's Black Sea port of Yuzhnaya Ozereyevka are expected at around 1.1mb/d – down around 17% from September.
  • Black Sea CPC Blend oil has firmed to 7-year record premium against dated Brent due to a fall in October supply traders said to Reuters.
  • Kazakhstan will compensate for some previous OPEC+ quota over-production during the outage.