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Angolan programme awaited, Nigerian weak

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10/17/2020 | 04:00am EDT

LONDON (Reuters) - Angola's loading programme for December had yet to appear on Friday, while the Nigerian market remained under pressure.

ANGOLA

* State oil company Sonangol was gathering details from producing companies on their expected December supplies, and has yet to issue the loading programme, traders sad.

* A few November cargoes remain, including a CLOV cargo.

* Chinese buying has yet to rebound as the COVID-19 pandemic continues.

NIGERIA

* * November-loading Qua Iboe and Bonny Light are being offered at parity with dated Brent, a trader said. Deal levels were assessed closer to dated Brent minus 50 to 60 cents, as heard earlier this week.

* The restart of Libyan supply, which can compete with Nigerian crude in terms of quality, is squeezing Nigerian differentials, say traders.

(Reporting by Alex Lawler; Editing by Louise Heavens)


Stocks mentioned in the article
ChangeLast1st jan.
LONDON BRENT OIL -1.82% 39.8 Delayed Quote.-37.71%
WTI -2.30% 37.905 Delayed Quote.-36.11%
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