Angola crude exports to fall to 1.46 million bpd in January

LONDON: Angola's crude oil exports are expected to fall to 1.46 million barrels per day (bpd) in January from 1.8 million bpd in December, according to provisional loading programmes.

The 47 cargoes to be exported mark a steep decline from the 58 originally planned for December. There are no cargoes of Plutonio scheduled to load versus four in December although traders said they expected updates to the loading schedule.

The cargoes enter a market that is increasingly oversupplied. As many as eight of Angola's own December cargoes have yet to find buyers, a large number for this late in the month.