LONDON, Oct 30 (Reuters) - West African crude continued to
be purchased in tenders, but traders expected differentials to
decrease as coronavirus lockdowns threatened demand and import
quotas in China were set to be filled soon.
RELATED NEWS
* Taiwan's CPC took on U.S. Midland crude and Congolese
N'Kossa in its latest buy tender for crude arriving in January.
* Turkey's Tupras bought Nigerian crude for its latest
tender for Nov. 25 - Dec. 15 delivery, traders said, with light
sweet grades trading more than dated Brent flat recently.
* Consistent awards of Indian tenders to Nigerian crude last
week helped lift Nigerian differentials from their lowest levels
since the depths of the pandemic.
* Results, which closed on Thursday, did not immediately
emerge for a tender by Taiwan's Formosa for crude arriving in
mid-January, for which West African grades are eligible.
* Buying interest remained high for Angolan crude, as
Sonangol finalized its December loading program at 38 cargoes,
substituting a cargo of Hungo for Kissanje.
* Traders said Chinese buying would likely cool as import
quotas for Chinese refiners for the beginning of 2021 are
filled.
RELATED NEWS
* Oil prices will be hemmed in the $40-45 per barrel range
for the rest of the year, a Reuters poll showed on Friday, with
analysts expecting a rough road to recovery into 2021 as an
accelerating coronavirus outbreak fans renewed demand concerns.
* OPEC oil output has risen for a fourth month in October, a
Reuters survey found, as a restart of more Libyan installations
and higher Iraqi exports offset full adherence by other members
to an OPEC-led supply cut deal.