ONGC Videsh sells December Russian Sokol crude at lower premium after exports rise

• Posted in OilGas
• on October 12, 2018
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India’s ONGC Videsh (OVL) has sold a cargo of Russian Sokol crude for December loading at a lower premium than its previous deal after supplies of the oil rose, three trade sources said on Thursday

* The oil producer sold the cargo for loading on Dec. 6 to 12 at a premium of about $5.40 a barrel to Dubai quotes to Shell, they said

* ONGC last sold a cargo loading on Nov. 29 to Dec. 5 at a premium of $5.85 a barrel

* Sokol crude exports are expected to rise by 200,000 tonnes per month to 1.3 million tonnes per month from October, according to loading schedules

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