LONDON, May 18 (Reuters) - Angola's preliminary export
schedule for July shows it is trimming the number of cargoes it
plans to sell compared with June.
* Angola is set to export 37 crude oil cargoes in July for
a daily rate of about 1.1 million barrels, in line with its
output cut pledge in an OPEC+ production deal. * India's IOC has re-issued a tender set to close on May 19
for West African crude loading on June 18-30.
* Traders are looking to the tender for clarity on spot
prices as differentials in West African oil grades and the
Mediterranean have edged up since the beginning of the month.
* Sellers of Nigerian oil expressed optimism that resumed
mobility amid the easing of lockdowns would boost gasoline
demand amid a slowdown in global refining in May.
* Those factors could lead to a jump in differentials for
light, sweet crudes but European traders said there was no
immediate sign of higher sale prices as volatile markets and
long voyage times made the value of African oil unpredictable.
* Offers for Nigerian Egina have jumped to dated Brent plus
$2.50 after lingering at dated Brent flat, but it remains
unclear whether any buyers were found.
RELATED NEWS
* OPEC+ has cut its oil exports sharply in the first half of
May, companies that track the shipments said, suggesting a
strong start in complying with a new production cut agreement.
* Total has called off a plan to acquire Occidental
Petroleum's assets in Ghana, which was conditional on the
completion of the acquisition of Occidental's other assets in
Algeria, the French energy company said on Monday. * A recovery in fuel demand in India gathered momentum in
the first half of May versus April as curbs on transport and
industrial activity were partly lifted in areas that have
contained the spread of coronavirus, data showed.