Thursday, August 16, 2018

Azeri BTC Crude Oil Loadings from Ceyhan Port Set to Fall 9%

Posted by August 8, 2018

The Azeri BTC <BFO-AZR> crude oil loading plan from the Ceyhan port is set to fall to 18.85 million barrels in September from 21.4 million barrels in August, the schedule seen by Reuters showed.

On a daily basis, Azeri BTC loadings will fall by 9 percent in September compared to August, Reuters calculations showed.

Lower Azeri BTC loadings in September may result in firmer premiums for the grade's cargoes, which are currently supported by healthy demand for light barrels in the Mediterranean.

August-loading cargoes of Azeri BTC were recently estimated around dated Brent plus $2 a barrel, Reuters monitoring showed.

Reporting by Olga Yagova

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