CPC Blend exports to fall sharply in June

摘要

Loadings of Caspian light sour CPC Blend are scheduled 14pc lower than the re- vised May plan at 1.206mn b/d (1.22mn t) in June — the lowest since May 2019. The drop refects output cuts by Kazakhstan as one of 10 non-Opec partici- pants in the latest Opec+ restraint deal. The country has committed to reduce production by 390,000 b/d in May-June against a 1.709mn b/d baseline.