W. Africa Crude-Angola programmes due, Nigerian weak

Published 14/10/2020, 16:57
© Reuters.

LONDON, Oct 14 (Reuters) - West African crude traders were
still awaiting the emergence of December's Angolan loading
programmes on Wednesday while Nigerian grades remained pressured
by weak demand.

ANGOLA
* Traders said that about four or five Angolan cargoes for
November remain available, including cargoes of CLOV.
* December's loading schedule is expected to emerge by
Friday.
* Chinese buying has yet to rebound as the COVID-19 pandemic
continues.

NIGERIA
* The restart of Libyan supply is squeezing Nigerian
differentials, but some demand remains as offer levels are near
multi-year lows reached in May because of the pandemic.
* November-loading Qua Iboe and Bonny Light were valued by
market sources at dated Brent minus 50 to 60 cents, a shade
weaker than previously heard.

TENDERS
* Indian Oil Corp is running a tender closing on Thursday to
buy crude for arrival from late December to early January.

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