European refiners are shunning Russia’s flagship crude grade Urals, which is now more expensive than Brent Crude after Russia cut its exports as part of the OPEC+ agreement, oil traders told Reuters on Friday. Over the past few weeks, the price of Urals , a blend of heavy sour oil from the Urals mountains and light oil from Western Siberia, has risen to a premium to dated Brent prices after Russia has significantly reduced its exports of the grade. In April, when oil prices crashed with the demand collapse and the Saudi-Russian oil price war, the price of Urals was around $4 a barrel below dated Brent. Since then, Urals has become more expensive than Brent and has been trading at some $2 a barrel premium to dated Brent. Urals exports from Russia’s Baltic and Black Sea ports are expected at around 880,000 bpd in the first ten days […]