LONDON, Aug 7 (Reuters) - Price levels for the last few
cargoes of Angolan crude for September export eased slightly on
Wednesday, traders said, as sellers seek to clear supplies
before interest shifts to later loading barrels.
ANGOLA
* About six cargoes remain for loading in September.
* Demand from Chinese independent refiners had pushed
differentials higher, but in the last week offers have been
marked lower for the few remaining cargoes.
* Girassol, offered at about a premium of $3.00 to dated
Brent last week, eased to around a premium of about $2.70 while
Dalia offers eased from $2.70 compared to date Brent to $2.50.
* Distillate refining margins are high both in Europe and
Asia, providing a boost to Angolan crude after three months when
Chinese demand was especially weak.
NIGERIA
* Around ten or fewer cargoes remain for loading in August,
as the largest overhang of 2019 finally begins to abate.
* Neither Nigerian nor North Sea crudes have traded well in
recent weeks as U.S. exports hit an all-time high for June and
flows to Europe ramped up.
* India's IOC and Uruguay's ANCAP are both running a tender
that includes West African grades this week for loading in
September.
RELATED NEWS
* U.S. oil output is expected to rise 1.28 million barrels
per day to 12.27 million bpd this year, the U.S. EIA said in a
monthly report, slightly lowering its annual growth forecast
from 1.40 million bpd last month.