BTC Blend rise offsets Urals dip

摘要

FSU crude exports were little changed on June at 6.46mn b/d (27.6mn t) last month, after higher flows from Azerbai- jan offset a slight drop in Russian seaborne Urals loadings. Exports through Transneft pipelines, including transit, fell by 1pc to 4mn b/d (16.99mn t), reflecting rising refinery runs to meet summer motor fuel demand. But January-July exports were up by 5.7pc on the same period of 2014, at 4.2mn b/d, in response to this year’s reduction in export duty.