Urals exports to Black Sea should continue decline

摘要

London-Exports of Russian Urals crude to the Black Sea/Mediterranean market have declined sharply in 2010 and are set to continue falling over the coming months, helping to boost the price of the oil relative to other grades, Andrew Reed, an analyst at US-based ESAI, said September 22. Urals exports from the Black Sea averaged 1.13 million b/d in 2009, but have fallen to 950,000 b/d so far this year, Reed said. That figure is expected to slip to 850,000 b/d by the end of the year and to about 750,000 b/d by “early 2011,” Reed said.