Black Sea CPC blend crude oil exports to remain unchanged at 1.65 million bpd in July vs June, sources say

Black Sea CPC blend crude oil exports to remain unchanged at 1.65 million bpd in July vs June, sources say

Black Sea CPC blend crude oil exports are expected to remain unchanged at 1.65 million barrels per day (bpd) in July compared to June, according to industry sources. This projection follows a period of volatility in global oil markets, driven by geopolitical tensions and supply disruptions.

The stability in Black Sea CPC blend exports comes as a relief for energy markets, which have been grappling with the potential disruptions to oil supplies. The current scenario is a stark contrast to the volatile oil prices witnessed in recent months, particularly following the Israel-Iran conflict that led to a significant surge in oil prices [2].

Analysts attribute the stability in Black Sea CPC blend exports to the resilience of the region's oil infrastructure and the effective management of supply chains. The Black Sea region has emerged as a critical oil-producing area, with countries like Ukraine and Russia contributing significantly to global oil supplies. The region's strategic location and well-established export infrastructure have allowed it to maintain stable oil exports despite geopolitical tensions.

The stability in Black Sea CPC blend exports is also a reflection of the ongoing efforts by major oil-producing countries to maintain a balance between supply and demand. The Organization of the Petroleum Exporting Countries (OPEC) and its allies have been working to manage oil supply to prevent any significant disruptions in the global market. The recent agreement between OPEC and non-OPEC producers to increase oil production by 400,000 bpd has also contributed to the stability in oil prices [2].

However, the stability in Black Sea CPC blend exports may not last indefinitely. The ongoing geopolitical tensions in the region, including the potential for further escalation in the Israel-Iran conflict, could disrupt oil supplies and lead to price volatility. Additionally, the ongoing efforts to transition to renewable energy sources may also impact the demand for oil in the long run.

In conclusion, the Black Sea CPC blend crude oil exports are expected to remain unchanged at 1.65 million bpd in July compared to June, providing a degree of stability to the global oil market. However, the ongoing geopolitical tensions and the long-term transition to renewable energy sources may pose challenges to the stability of oil supplies and prices in the future.

References:
[1] https://www.reuters.com/business/aerospace-defense/taking-lessons-ukraine-taiwan-eyes-sea-drones-counter-china-2025-06-13/
[2] https://www.fool.com.au/2025/06/17/up-18-in-june-is-the-betashares-crude-oil-index-etf-a-good-oil-price-play/