West Africa Crude-Angolan cargoes linger, Qua offered lower

LONDON: Angola crude oil cargoes remained in ample supply on Thursday while offers of Nigerian crude were heard to be edging lower from previously reported levels.

ANGOLA

The market has around 14 unsold January cargoes available, down 3 from Wednesday's estimate but still a sizeable overhang given that next month's programmes will be out in just over a week.

Cargoes have sold for weaker differentials than in the previous month, a trader said, putting the month-on-month decline at around 50 cents a barrel, due to softer demand.

Unsold cargoes include two cargoes of Cabinda, two of CLOV, two of Pazflor and two of Saturno.

NIGERIA

Qua Iboe was being offered at dated Brent plus $1.65 a barrel, the lower end of a range given on Wednesday.