November 4, 2019 / 6:35 PM / 17 days ago

Med crude-Urals diffs steady during Russian holiday

LONDON, Nov 4 (Reuters) - Urals crude oil differentials were steady on Monday amid a Russian public holiday.

PLATTS WINDOW

* There were no bids or offers in the Platts window for Urals, Azeri, CPC or Saharan, traders said. Urals differentials to dated Brent have firmed over the past week on strong demand and tight supply.

RELATED NEWS

* Iranian Oil Minister Bijan Zanganeh was quoted as saying on Monday that he expects further production cuts to be agreed at the next meeting of the Organization of the Petroleum Exporting Countries (OPEC) in December.

* Russia lowered its oil output to 11.23 million barrels per day (bpd) last month from 11.25 million bpd in September, missing again its obligations under a global pact to curb production, energy ministry data showed on Saturday.

* Hungarian energy firm MOL is buying Chevron’s stake in a giant oilfield in Azerbaijan for $1.57 billion, as U.S. majors retreat from the central Asian state after 25 years to refocus on production at home. (Reporting by Dmitry Zhdannikov and Julia Payne; Editing by Emelia Sithole-Matarise)

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