W. Africa Crude-Spot muted after previous flurry of sales

Published 11/11/2019, 19:01
Updated 11/11/2019, 19:09
© Reuters.  W. Africa Crude-Spot muted after previous flurry of sales

LONDON, Nov 11 (Reuters) - Spot trade was slow on Monday

after busy trading in the previous week as refiners sought to

mop up grades suitable to make fuel oil compliant with new

shipping rules coming into effect from January.

* Relatively firm refining margins were helping to buoy the

market for light, sweet Nigerian grades.

* Less than 10 Angolan cargoes remain from the December

programme after a flurry of deals last week.

* Indian Oil Corp issued a tender to buy west African crude

loading Jan. 5-14. The tender closes on Nov. 14.

* Vitol won the IOC tender last week with a cargo of Akpo.

RELATED NEWS

* Lower prices and increasing competition for investment are

driving many African states to make it easier and cheaper for

overseas companies to keep their oil and gas output flowing.

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