LONDON: There was limited trading as Nigeria's NNPC allocated its June cargoes and traders vied for Indian tenders to buy oil.
There was also little trading in Angolan crude for June loading, though demand from Chinese refineries was relatively stable.
Nigeria's initial loading programmes showed exports falling to around 1.7 million barrels per day (bpd) including Akpo - the lowest level all year.
NIGERIA
A cargo of Agbami and one of Qua Iboe will sail to India as part of the BPCL tender, traders said.
Following the tender fewer than 11 cargoes were left for spot trade in May, including cargoes of Bonny Light, Bonga, Qua Iboe, Brass, Akpo and EA.
Most of the June loading programme had yet to trade and few offers surfaced as NNPC worked to allocate cargoes.
ANGOLA
Traders said that Chinese demand - a key support of Angolan oil - was relatively steady in May, and was showing strength in June as well.
China's state planner raised gasoline and diesel prices, the first adjustment to retail fuel prices since it introduced a new pricing mechanism in January.
Traders said this could improve refinining margins in China and help clear more crude oil cargoes.
Few spot trades surfaced.
Sonangol was offering Dalia and Sangos cargoes, at dated Brent minus $3 and dated minus $1.80 respectively.
TENDERS
Chevron won a tender to supply India's BPCL with Qua Iboe and Agbami. Traders said the refiner took another suezmax as well, but further details were not available.
Glencore won the tender to supply MRPL with 600,000 barrels of Congolese crude.
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