Urals oil supplies to Turkey jump in Feb as STAR refinery resumes Russian crude imports | Reuters News Agency
Business & FinanceEnergy

Urals oil supplies to Turkey jump in Feb as STAR refinery resumes Russian crude imports

Reuters exclusively reported that supplies of Russian flagship Urals crude oil to Turkey reached a four-month high in February after STAR refinery, owned by Azerbaijan’s oil firm SOCAR, resumed purchases of the blend. Sea-borne Russian oil supplies are subject to an embargo by the European Union and the price is capped by the West to $60 per barrel over Moscow’s actions in Ukraine.

Market Impact

Increase in Urals crude supplies to Turkey will likely bolster the price of the Russian blend, making India and China, which already saw record-high oil imports from Russia, compete for the Russian oil volumes with Turkey.



Article Tags
Topics of Interest: Business & FinanceEnergy
Type: Reuters Best
Sectors: Commodities & Energy
Regions: AsiaEurope
Countries: RussiaTurkey
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story
Eikon_3.2.23_ural oil
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