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.
Business & FinanceEnergy
Urals oil supplies to Turkey jump in Feb as STAR refinery resumes Russian crude imports
01 March 2023, 4:01 pm 1 minute
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
