W. Africa Crude-Indian refiners set to mop up some cargoes

Published 12/05/2020, 18:12
Updated 12/05/2020, 18:18
© Reuters.

LONDON, May 12 (Reuters) - Spot activity was limited on
Tuesday but the rise of Indian refining runs will likely keep
prices propped up after the dismal levels seen two weeks ago.

* India's IOC issued a new buy tender for west African crude
loading June 9-18. The tender closes on May 13.
* Around 10 cargoes of June-loading Angolan crude were still
available, with the July programme due to emerge at the end of
the week.
* Chevron was offering June-loading Nemba at dated Brent
minus 70 cents.

RELATED NEWS
* OPEC and its allies want to maintain existing oil cuts
beyond June when the OPEC+ group is next due to meet to shore up
prices and demand, which has been hit by the coronavirus
pandemic, four OPEC+ sources said on Tuesday.

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