Angola's oil exports to fall to 3-year low

LONDON: Angola plans to export 1.49 million barrels per day (bpd) of crude oil in July, its lowest monthly level in over three years, down from 1.66 million bpd planned in June, a provisional shipping list showed on Friday.

The exports look set to be the lowest since May 2011 according to Reuters data, indicating that cargos are likely to sell swiftly, traders said.

Most Angolan crude, which is heavier and higher in sulphur content than Nigerian oil, is shipped to Asia.

Exports on several grades including Girassol, Nemba and Kissanje were set to be lower in July than June, the list showed.

Traders said that lower exports for the month would probably support differentials against dated Brent.