Urals oil supplies to Turkey jump in Feb as STAR refinery resumes Russian crude imports – Reuters News Agency

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Business & FinanceEnergy

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

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