W. Africa Crude-Glut persists, weighing on differentials

Published 02/04/2020, 18:07
Updated 02/04/2020, 18:12
© Reuters.

LONDON, April 2 (Reuters) - West African crude differentials
remained under pressure on Thursday, with Qua Iboe at a
two-decade low, due to a supply glut and a lack of demand due to
the coronavirus outbreak.

* Around 20 cargoes of April-loading Nigerian were still
available even though May trading is also under way.
Qua Iboe crude was last shown at dated Brent minus $3.00 a
barrel, steady from Wednesday and the lowest differential in two
decades, according to Refinitiv Eikon data.
* Angola's state firm Sonangol still holds cargoes and
Cabinda was last offered at minus $3 a barrel.

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