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Med crude-Urals diffs in NWE down again on offer as Baltic loadings set to rise in Dec/Nov – Agricultural Commodities

MOSCOW, Nov 25 (Reuters) – Urals crude differentials to dated Brent in northwest Europe eases further on Monday on offer as supply volumes set for Primorsk and Ust-Luga for December have exceeded traders’ expectations.

* Urals loadings from Russia’s Baltic ports of Primorsk and Ust-Luga have been set at 5.4 million tonnes for December, up from 4.7 million tonnes planned for November, according to a preliminary schedule seen by Reuters on Monday.

* On a daily basis Urals loadings from Russia’s Baltic ports are set to rise by 11% in December compared with the November plan, according to Reuters calculations, while many traders expected Urals loadings to fall or to stay flat compared to this month.

* Urals and Siberian Light exports from the Black Sea’s Novorossiisk port were set at 2.07 million tonnes in December, down from 2.3 million tonnes planned for November, according to the schedule.

* Russia’s Transneft said it resumed oil loadings from the Black Sea port of Novorossiisk on Nov. 24 after storm, Interfax reported.

PLATTS WINDOW

* Glencore offered a 100,000-tonne Urals cargo from Primorsk or Ust-Luga on Dec. 10-14 at dated Brent minus $1.45 a barrel, but failed to find a buyer.

* That was down by some 50 cents from Urals estimations in northwest Europe on Friday BFO-URL-NWE.

TENDERS

* Russia’s Surgutneftegaz sold in a spot tender to Gunvor 100,000 tonnes of Urals crude oil for loading from Ust-Luga in December, traders said.

* The cargo for loading on Dec. 12-13 was awarded at a price below dated Brent minus $1.00 a barrel when adding freight to the original FOB differential, traders said.

* On Tuesday Surgut closes another spot tender to sell 800,000 tonnes of Urals from the ports of Primorsk and Ust-Luga in December.

RELATED NEWS

* OPEC and its allies are set to hold a series of meetings to decide their oil output policy in Vienna on Dec. 4-6, a shorter schedule than earlier planned, OPEC sources said. (Reporting by Gleb Gorodyankin and Olga Yagova, editing by Louise Heavens)

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