LONDON, March 2 (Reuters) - Spot activity was slow on
Tuesday due to weak demand in Europe and Asia, while traders
awaited the results from an Indian tender.
* Unipec, the trading arm of China's Sinopec, was still
offering four cargoes of April loading Angolan crude but lowered
the offer levels from Friday.
* Unipec was offering Gindungo at dated Brent plus 10 cents,
Mondo at dated Brent minus 10 cents, Dalia at dated Brent plus
50 cents and Girassol at dated Brent plus $1.40.
* Unipec selling rather than buying is a sign of weak demand
in China owing to the recent sharp oil price rise.
* A sizeable overhang of March-loading Nigerian cargoes
lingered, while differentials for competing light grades such as
Azeri Light and CPC Blend in the Mediterranean have also crashed
over the last 10 days.
* India's IOC issued a buy tender for May 1-10 loading crude
with results expected on Thursday.
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* Abu Dhabi's ADNOC has told Asian oil buyers that it plans
to increase crude allocations in April, sources close to the
matter matter told Reuters ahead of an OPEC+ meeting expected to
agree to an easing of production cuts within the producer group.