W. Africa Crude-Nigerian under pressure due to weak demand

Published 13/03/2020, 18:13
© Reuters.  W. Africa Crude-Nigerian under pressure due to weak demand

LONDON, March 13 (Reuters) - Nigerian crude differentials

stayed under downward pressure on Friday due to ample supply as

the coronavirus outbreak limits demand.

NIGERIA

* Nigeria has about 35 unsold April-loading cargoes due to a

drop in demand, according to traders. The state oil company this

week put the total number at around 50.

* There is a strong supply of competing crude, a trader

said, plus dwindling storage options.

* Qua Iboe was last offered at dated Brent plus $2.00 and a

trader expected sold prices to go lower.

ANGOLA

* Six or less cargoes in the current monthly trading cycle

ahead of new programmes due next week.

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