Urals diffs steady in muted trade

Urals crude differentials to dated Brent were stable on Friday in an opaque market, while trade focus shifted to May-loading barrels, industry sources said.

• A ship controlled by U.S.-sanctioned Russian shipping giant Sovcomflot (SCF) discharged fuel oil at a western Indian port on Friday, two sources familiar with the matter said, indicating a resumption in the use of SCF vessels to supply Moscow's key market after a brief halt.

  PLATTS WINDOW

• No bids or offers were made for Urals, CPC Blend or Azeri BTC crude in the Platts window on Friday.

NEWS

• Russia's oil production in 2024 is forecast to reach 523 million tonnes, with exports at 240 million tonnes, Interfax news agency reported on Friday, citing the economy ministry.

• Russia's second-largest oil producer Lukoil is holding an annual shareholders' meeting on Friday to consider a dividend among other matters, but has yet to name a board head after its two previous chairmen died prematurely.