LONDON, June 19 (Reuters) - Angola's July exports had almost
all sold out by Friday and Vitol likely won an Indian buy
tender.
* Only a small handful of Angolan crude cargoes remain for
export in July and have taken an unusually long time to sell.
* Significant product inventories in China and the
exhausting of the latest import quotas by teapot refineries
there has led to slower sales and ebbing differentials for
heavier oil grades from West Africa.
* Reduced exports from Iraq in line with a producer pact to
rein in supply especially affects supply to India, and traders
expect Nigerian oil will likely benefit especially if Indian
refiners begin to seek more sweet oil.
* Official selling prices for Nigerian exports for July are
expected imminently, with traders expecting little change to
light sweet crude prices due to lacklustre European demand and
persistently poor refining margins.
* Vitol likely won two buy tenders for four million barrels
of oil, including mostly West African grades - one is for Sept.
1-10 delivery and the other for Oct. 1-10 - traders said, but
details did not emerge.
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