W. Africa Crude-Some grades offered lower on weak demand

Published 07/10/2020, 17:33
Updated 07/10/2020, 17:36
© Reuters.

By Alex Lawler
LONDON, Oct 7 (Reuters) - Some West African crude grades
were offered at lower levels on Wednesday, with Nigerian Qua
Iboe for sale at a discount to dated Brent, reflecting ample
supply and lacklustre demand.

PLATTS WINDOW
* No deals.

NIGERIA
* Ample supply of Nigerian crude and the ramp-up of Libyan
production, which can compete with Nigerian oil, is weighing on
differentials, traders say.
* Qua Iboe for November loading was offered at dated Brent
minus 20 cents, down 30 cents from an offer heard on Tuesday,
putting the value at a further discount to the benchmark.

ANGOLA
* As many as 10 November-loading cargoes were still
available, including some on re-offer.
* Offers were mostly heard to be in line with Monday's
levels, when CLOV was offered at dated Brent plus 70 cents and
Saturno at dated Brent plus 10-20 cents.
* Pazflor was offered by Exxon at dated Brent plus 10 cents,
a trader said, 20 cents below the previous offer heard.

TENDERS
* Indian Oil Corp. has a buy tender closing on Oct. 8 for
crude loading Nov. 11-20.

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