W. Africa Crude-IOC mops up as spot trade stutters

Published 07/02/2020, 16:57
Updated 07/02/2020, 17:00
© Reuters.  W. Africa Crude-IOC mops up as spot trade stutters

LONDON, Feb 7 (Reuters) - A major Indian refiner mopped up

five cargoes in its latest tender taking advantage of a

favourable market structure and cheaper freight while spot trade

was subdued.

* Unipec was offering Gindungo from dated Brent minus 20

cents, Pazflor at plus 80 cents and Sangos and Saturno at plus

50 cents and minus 65 cents respectively.

* State oil company Sonangol continued to offer a cargo of

Dalia at Dated Brent plus $1.50.

* Chevron was offering a cargo of the Congolese grade at

dated Brent flat.

* India's IOC awarded its April 1-10 loading tender to BP

and Vitol for a VLCC of crude each and to Chevron for a Suezmax

cargo.

RELATED NEWS

* Russia said on Friday it needed more time to decide

whether to join any additional oil output cut by OPEC, saying

U.S. crude production growth would slow and global demand

remained solid.

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