LONDON, Sept 16 (Reuters) - A glut of Nigerian crude oil
cargoes continued to look for buyers while Angolan crude sold
steadily on reduced prices, as export volumes for
November-loading oil from the country were still awaited on
Wednesday afternoon.
* State oil company Sonangol had sold all of its spot
cargoes by early this week on sharp decreases to price offerings
amid slow Chinese buying.
* A sale by China's Unipec to Glencore of one of its
term-allocated Angolan cargoes outside the Platts window last
week was bound for floating storage and underscored its lack of
interest this trading cycle.
* Around eight cargoes of October-loading Angolan crude
remained, as traders said sellers lagged behind Sonangol in
perceiving the weak East Asian demand and promptly lowering
prices.
* Offers of light Nigerian crude still bobbed above dated
Brent flat but traders said they would likely sell for far less.
* A flip of the Brent-Dubai spread DUB-EFS-1M to a
discount for the first time since the height of the global
pandemic could stoke renewed interest from Asian buyers in West
African cargoes and provide an avenue for the Nigerian glut.
* Traders said cheap U.S. oil and poor margins were largely
shutting Nigerian crude out of Europe, while sluggish demand in
India which has seen virus cases flaring is also weighing.
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* The United Arab Emirates has emerged as a major laggard in
delivering oil output cuts in August, figures used by OPEC+
showed on Wednesday, as the group meets this week amid signs of
a faltering demand recovery. * Nigerian state oil company NNPC has extended for six
months its contracts with private companies to swap crude oil
for fuels, two sources familiar with the contracts told Reuters.