Oil is in turmoil in supply in Kazakhstan

Colleen Howe and Trixie Yap

(Reuters) – Brent crude prices rose in the last session after drone attacks on Russian oil pipeline pump stations reduced flows from Kazakhstan, but quickly gained supply prospects.

Brent crude futures reached 15 cents (0.2% (0.2%) at 0454 GMT to $75.37 per barrel.

U.S. West Texas middle-level crude futures rose 67 cents since the end of Friday to $71.41 a barrel. There was no WTI settlement on Monday due to the US President’s Day holiday.

“The recent themes driving crude oil prices are based on supply expectations. With prices falling over the past few weeks, news of drone strikes on Kazakhstan’s export pipeline in Russia has been reported as IG market strategists It provided a catalyst for emotional tolerable,” Yeap Jun Rong said in an email.

The drone strike at Kropotkinskaya station in the Krasnodar region of southern Russia has reduced shipments from Kazakhstan to the global market by Western companies, including Chevron and ExxonMobil, the Caspian Pipeline Consortium said on Monday.

The Black Sea CPC Blend Oil Load Plan for February remains unchanged, two sources familiar with the plan told Reuters.

“However, long-term profits could be curbed as the market could potentially forecast higher supply from OPEC+ and Russia in the future, but particularly improved demand outlook from China. It remains uncertain and is based on recent economic data,” said Yeap of IG. .

BMI analysts say it averaged $76 barrels in 2025, down 5% from the 2024 average.

OPEC+ producers are not considering delaying the series of monthly oil supply growth scheduled to begin in April, according to reports from Russian state media.

In December, OPEC pushed back plans to start raising production in April as demand outside the group weakens and supply increases.

As we and Russian officials meet for a meeting in Saudi Arabia later Tuesday, the market was also waiting to see if peace talks for the Russian-Ukraine would bear fruit.

“There are many things that appear to be bearish in the oil market. The biggest factor that is currently the result of the Ukrainian negotiations is that Russian oil may partially return to a legitimate market, but of course here. There are many permutations about the final results in the “Spartan product analyst Neil Crosby said.

(Reporting by Colleen Howe, Edited by Michael Perry and Sonari Paul)