March 5, 2020 / 5:35 PM / a month ago

Med Crude-Urals diffs steady in muted trade as OPEC+ members discuss oil cuts

LONDON, March 5 (Reuters) - Urals crude differentials to dated Brent in northwest Europe and the Mediterranean were stable on Thursday in muted trade, while Russia and OPEC have yet to agree on oil production cuts.

OPEC agreed on Thursday to cut oil output by an extra 1.5 million barrels per day (bpd) in the second quarter of 2020 to support prices that have been hit by the coronavirus outbreak, but made its action conditional on Russia and others joining in.


* There were no bids nor offers for Urals, CPC Blend and Azeri BTC in the Platts window on Thursday.


* Two veteran managers from global trading house Glencore’s energy desk in Moscow have left with around a dozen other staff to focus on their own start-up, four industry sources told Reuters on Thursday.

* Russia has ordered the mandatory disinfection of ships arriving at the Black Sea ports of Novorossiisk and Yuzhnaya Ozereyevka from Iran, Italy and South Korea because of the coronavirus, a document seen by Reuters showed. (Reporting by Gleb Gorodyankin;Editing by Elaine Hardcastle)

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