W. Africa Crude-Trade quiet as traders wait for OPEC meeting outcome

Published 08/04/2020, 17:32
Updated 08/04/2020, 17:36
© Reuters.

LONDON, April 8 (Reuters) - The spot market was dead on
Wednesday ahead of a meeting between OPEC and its allies and as
Chinese demand slowed because of a sharp contraction to the
Dubai-Brent spread.

* Angola's state firm Sonangol still has May loading CLOV
and Dalia cargoes for sale.
* Just under half the May loading programme was available.
* Around 20 cargoes of April-loading Nigerian were still
available while May still had some 40 cargoes available.
* Angolan Mostarda was still being offered at minus $5 a
barrel and Mondo at minus $4.
* Indications for Nigerian Qua Iboe were still around dated
Brent minus $3.00 with most of the cargoes from the loading
programme still available and deal levels likely to be
significantly lower. Bonga was offered at minus $2.50.
* Gabonese Etame was heard shown at dated Brent flat.

RELATED NEWS
* Nigeria has decided to shut down all its oil refineries as
it works to secure funding and a model to upgrade them, the head
of Nigerian National Petroleum Corporation (NNPC) said on
Wednesday. * The world's top oil producers Saudi Arabia, Russia and the
United States still seemed at odds on Wednesday before this
week's meetings on potentially big output cuts to shore up crude
prices that have been hammered by the coronavirus crisis.

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