LONDON, April 21 (Reuters) - Spot trade was slim on Tuesday,
though the last cargo of Cabinda traded at the end of last week
thanks to falling Brent futures.
* Spot activity has picked up in other regions as well over
the past few days thanks to cheaper outright prices despite more
refinery shutdowns.
* Around 8-10 unsold Angolan crude cargoes remained from the
May programme, a sharp drop-off from early last week as buyers
capitalised on record low prices.
* Term allocations for the new June export schedule had yet
to emerge.
* Eni sold a cargo of Angolan Cabinda after offering at
dated Brent minus $6, traders said, specifying that BP was the
buyer, though this could not be confirmed immediately.
* At least three dozen cargoes of April and May-loading
Nigerian crude unlikely to be absorbed by the refining systems
of oil majors were still seeking buyers ahead of the imminent
arrival of June programmes.
RELATED NEWS
* The day after U.S. crude futures crashed into negative
territory for the first time, Texas oil and gas regulators on
Tuesday declined to force producers to curtail oil output for
the first time since 1972. * A number of OPEC ministers will hold a conference call on
Tuesday to discuss oil market developments and means of
implementing agreed supply cuts immediately rather than starting
on May 1, an OPEC source told Reuters. * Portugal's Galp Energia will suspend output as its largest
oil refinery at Sines for a month from May 4 after the drastic
coronavirus-related drop in demand has left the company out of
storage space, a Galp spokesman said on Tuesday.