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Market Chatter: Kazakhstan Crude Shipments Slow as CPC Disruptions Persist

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Repeated drone strikes around the Black Sea export route pushed July crude loadings on the Caspian Pipeline Consortium more than 20% below plan, disrupting Kazakhstan's exports, Reuters reported Friday, citing four sources familiar with the data.

The pipeline shipped about 1.2 million barrels per day to 1.3 million b/d in July, while August CPC Blend loadings have averaged about 1.1 million b/d to 1.2 million b/d, the report said, citing data from Kpler and two sources.

The disruptions also weighed on Kazakhstan's production, which dropped 14% over the month as most of the country's crude exports depend on the CPC system, according to the report.

Caspian Pipeline Consortium and Kazakhstan's Ministry of Energy did not immediately reply to' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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