Med crude-Urals diffs stable, OPEC+ decides on oil output hike
MOSCOW, Oct 2 (Reuters) -Urals crude oil differentials to dated Brent were stable on Wednesday amid low trading activity, while OPEC+ members decided to stick to the oil output hike plan.
A meeting of several ministers from the Organization of the Petroleum Exporting Countries and allies led by Russia, or OPEC+, has kept oil output policy unchanged including a plan to start increasing output from December.
Iraq, Kazakhstan and Russia told the meeting that they had delivered on their promised cuts in September, the OPEC statement said.
Russian Deputy Prime Minister Alexander Novak said on Wednesday that oil prices have increased as markets do not rule out a decline in oil supply due to the conflict in the Middle East.
PLATTS WINDOW
There were no bids or offers made for Urals, Azeri BTC or CPC Blend in the Platts window on Wednesday.
NEWS
U.S. crude oil inventories rose last week as refinery utilization rates fell amid weakening fuel demand, data from the Energy Information Administration showed on Wednesday.
Reporting by Reuters; Editing by Emelia Sithole-Matarise
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