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Oil loadings in western Russian ports could increase in August, despite steady Urals oil diffs

The differential between Brent and Urals crudes remained unchanged on Wednesday. However, oil loadings in Russia's western port this month could increase after two refineries reduced their output following the Ukrainian drone attacks.

In August, Russia will increase oil loadings at Primorsk and Novorossiisk by nearly 2 million barrels a day, which is about 200,000 more than the previous estimate.

Four industry sources say that Indian refiners await government instructions on whether they should continue to buy Russian oil, after the United States imposed new 25% tariffs on Indian products over New Delhi’s energy ties to Russia.

Four industry sources said that a restart of Iraqi Kurdish oil exports through Turkey's Ceyhan Pipeline is not imminent. This was despite the fact that Iraq's oil ministry had been quoted as saying he anticipated a resumed soon.

PLATTS WINDOW

On Wednesday, there were no bids or offers made on Urals, Azeri BTC Blend or CPC blend in the Platts Window.

* EXPLAINER: Where can India turn to for oil in place of Russian oil? Mark Porter (Reporting and Editing)

(source: Reuters)