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Markets

Angola oil exports to dip in June-loading schedule

Published Updated

imageLONDON: OPEC member Angola is due to export around 1.66 million barrels per day (bpd) of crude oil in June, a provisional loading programme showed on Monday.

June's figure is down from a planned 1.83 million bpd in May. The oil was due to be shipped out in 52 cargoes, the list showed, against the 58 cargoes due for loading in May. A trader said that the fall did not indicate problems in production.

Just one cargo of Saxi was due to load in May, compared to a planned three in May, and five Plutonio compared to seven the month before.

Angola, Africa's second-biggest producer of oil, mostly produces heavy to medium crude and ships the majority of its exports to Asian buyers.

Cargoes of relatively heavy sour Angolan crude have been selling faster than lighter sweeter Nigerian oil in recent months.

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