W. Africa Crude-Angolan programme due to emerge

Published 15/09/2020, 16:55
© Reuters.

LONDON, Sept 15 (Reuters) - Spot trade was slow on Tuesday
as traders waited to see Angola's November loading programme,
which was expected to surface by Wednesday.

* Angola's state firm Sonangol sold its last spot cargo on
Friday after offering it at dated Brent plus 20 cents.
* Less than 10 cargoes of October-loading Angolan remained.
Chevron and BP recently sold cargoes. Chevron was said to have
sold a cargo of Cabinda to Mercuria.
* Key grades Bonny Light and Qua Iboe were valued below
dated Brent flat. Forcados was still being shown at dated Brent
plus 50 cents, though many cargoes of that grade remained
available.

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* More than a fifth of U.S. offshore oil production was shut
and key exporting ports were closed on Tuesday as a precaution
ahead of Hurricane Sally's landfall on the U.S. Gulf Coast, the
second significant storm to shutter oil and gas activity over
the last month. * OPEC and allies such as Russia are unlikely to announce
further curbs to oil output this week despite a price drop,
sources told Reuters, and will extend the period for countries
like Iraq and Nigeria to compensate for earlier overproduction.

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