W. Africa Crude-High freight weighs, Angolan overhang looms

Published 11/12/2019, 19:06
Updated 11/12/2019, 19:09
W. Africa Crude-High freight weighs, Angolan overhang looms

LONDON, Dec 11 (Reuters) - Spot trade continued to be muted

on Wednesday but a few cargoes cleared in an Indian tender.

* Just around a dozen Angolan cargoes remained from the

January programme.

* Two cargoes of Cabinda were left to be traded, one with

Eni and another with Chevron.

* "Margins are really poor. Shipping is getting more

expensive again, around $4.50 a barrel to Asia, and dated Brent

is really strong," a trader said.

* India's IOC awarded a tender for crude loading Feb. 11-20.

Full details did not immediately emerge but BP was said to have

won with a cargo of Escravos and Total with a cargo of Akpo and

another grade, a trader said.

* Uruguay's ANCAP issued a tender for March-delivery crude,

closing on Dec. 12.

RELATED NEWS

* OPEC pointed to a small deficit in the oil market next

year due to restraint by Saudi Arabia even before the latest

supply pact with other producers takes effect, suggesting a

tighter market than previously thought.

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