Kazakhstan Railways has rescinded a provisional ban on transportation of oil products to the Russian Black Sea port of Taman, initially planned for May 8, according to a document from the state-owned railway operator seen by Reuters on Friday.
Kazakhstan ramped up oil exports bypassing Russia in the first quarter of 2023 as it seeks to reduce its dependency on its vast neighbour, data from industry sources and Refinitiv showed.
Qatar Energy set the term price for cargoes of al-Shaheen oil loading in June at a higher level than for May, indicating stronger demand for crude for the summer amid tightening supply after producers agreed to cut output.
The Caspian Pipeline Consortium (CPC), which handles 1% of global oil flows, has stopped oil loadings through its single mooring points (SPM) since April 10 because of a planned shutdown, it said on Wednesday.