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OIL: Russian Urals Sales to Turkey Up 38% in Nov: Reuters

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Russian Urals crude supplies to Turkey’s ports in November rose to 9.9m bbl, compared to 7.4m bbl in October, Reuters reported, as its main consumer returned from maintenance.

  • Turkey’s 260k b/d STAR refinery, operated by SOCAR, resumed buying Urals as a feedstock after a turnaround.
  • On a daily basis, Urals supplied to Turkey are up by 38% in November to 330k b/d when compared to October levels.
  • STAR completed its first major overhaul in October and resumed full processing.
  • India remains the overall top destination for Urals oil, taking around 60% of cargo arrivals this month so far.
  • China’s buying of Urals is just 5% of the total supply, with imports declining for the last six months due to weak refining margins and slower economic growth.
  • However, China remains a keen buyer of Far Eastern Russian oil grades such as ESPO, Sokol, and Sakhalin.
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Russian Urals crude supplies to Turkey’s ports in November rose to 9.9m bbl, compared to 7.4m bbl in October, Reuters reported, as its main consumer returned from maintenance.

  • Turkey’s 260k b/d STAR refinery, operated by SOCAR, resumed buying Urals as a feedstock after a turnaround.
  • On a daily basis, Urals supplied to Turkey are up by 38% in November to 330k b/d when compared to October levels.
  • STAR completed its first major overhaul in October and resumed full processing.
  • India remains the overall top destination for Urals oil, taking around 60% of cargo arrivals this month so far.
  • China’s buying of Urals is just 5% of the total supply, with imports declining for the last six months due to weak refining margins and slower economic growth.
  • However, China remains a keen buyer of Far Eastern Russian oil grades such as ESPO, Sokol, and Sakhalin.