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Bloomberg: Middle Eastern oil producers are raising the export prices for their lower-grade crudes.
The phasing out of Urals crude in Europe has led to higher premiums for similar crude grades.
Some relief for European refiners came from the U.S., whose oil exports to Europe were set to reach a record in March at around 2 million barrels daily.

With a third of the year gone, it looks like U.S. oil production is on track to set a new annual production record in 2023.
The previous record was set in 2019 at 12.3 million barrels per day, with the EIA's current estimate for this year at 12.4 million barrels per day.
While U.S. production is currently on track to set a new record, it is far from a certainty given the current oil market.

Private investment is growing in Mexico's oil and gas sector, despite nationalisation policies.
Recent developments demonstrated potential for Mexico's oil and gas industry, including new refinery projects, increasing condensate production, and offshore oil discoveries.
Pemex's plans to boost offshore oil production, coupled with Eni's optimistic outlook on the region, indicate a positive future for Mexico's energy industry.

Russia's crude oil sales to China surged to its historic high in March.
Chinese refiners purchased discounted ESPO and Urals crudes from Russia.
Saudi Arabia still trails Russia in crude oil supply to China despite a 30% increase in March compared to the previous year.