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MOSCOW: Spot differentials for Russian Urals crude were unchanged on Tuesday, with activity depressed for more than 10 days.
While in Libya tankers have started loading crude from the El Sharara oilfield again after bad weather disruptions.
"Activity remains very poor due to the Chinese New Year and a general lack of buying interest.
I see some downside risks for light grades if more Libyan or Kazakh barrels hit the market," a trader in the Mediterranean said.
Tankers have started loading crude from Libya's El Sharara oilfield again after bad weather closed ports in the west of the country.
Output from the 340,000 barrel-per-day (bpd) field was reduced to 175,000 bpd because the ports were closed on Monday.
On Tuesday, El Sharara production stood at 209,000 barrels per day with two tankers loading at the Zawiya and Mellitah terminals.
A consortium loading Kazakh CPC Blend crude from the Black Sea has launched a third loading facility which will boost exports significantly later this year.
At the moment, CPC exports stand at 33 million tonnes a year but should rise to 48 million and then gradually to 70 million.
Libya's armed forces have not received orders from Prime Minister Ali Zeidan to move against eastern oil ports and use force to end a six-month blockade there by protesters, an army spokesman said.
Zeidan on Monday repeated a warning he may turn to force, and said he ordered the defence ministry weeks ago to move armed forces to the eastern ports, where the protests have cut off around 600,000 barrels per day of crude exports.
MOSCOW: Spot differentials for Russian Urals crude were unchanged on Tuesday, with activity depressed for more than 10 days.
While in Libya tankers have started loading crude from the El Sharara oilfield again after bad weather disruptions.
"Activity remains very poor due to the Chinese New Year and a general lack of buying interest.
I see some downside risks for light grades if more Libyan or Kazakh barrels hit the market," a trader in the Mediterranean said.
Tankers have started loading crude from Libya's El Sharara oilfield again after bad weather closed ports in the west of the country.
Output from the 340,000 barrel-per-day (bpd) field was reduced to 175,000 bpd because the ports were closed on Monday.
On Tuesday, El Sharara production stood at 209,000 barrels per day with two tankers loading at the Zawiya and Mellitah terminals.
A consortium loading Kazakh CPC Blend crude from the Black Sea has launched a third loading facility which will boost exports significantly later this year.
At the moment, CPC exports stand at 33 million tonnes a year but should rise to 48 million and then gradually to 70 million.
Libya's armed forces have not received orders from Prime Minister Ali Zeidan to move against eastern oil ports and use force to end a six-month blockade there by protesters, an army spokesman said.
Zeidan on Monday repeated a warning he may turn to force, and said he ordered the defence ministry weeks ago to move armed forces to the eastern ports, where the protests have cut off around 600,000 barrels per day of crude exports.
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