W. Africa Crude-IOC issues new tender, Chinese buying picks up

Kitco Media
By Reuters
Published:
Updated:
Reuters
LONDON, March 9 (Reuters) - India's IOC issued a new buy tender while Chinese buying perked up, signaling a robust rebound in demand from the world's top importer.
* India's IOC sought to buy April-loading crude in a tender due to close on Friday.
* Indonesia's Pertamina was running a buy tender valid until Friday for May arrival cargoes.


* China's Unipec bought several cargoes of Angolan crude on the spot market, confirming market expectations that demand would strongly return after COVID-19 restrictions there were relaxed.
* Unipec purchased two cargoes of Nemba and one of Saxi from Eni and Chevron.
* Angola's state oil company Sonangol last offered April loading Cabinda at dated Brent plus $2.50 and Dalia at dated Brent flat.
* Vitol yet again offered a March-loading cargo of Angolan Dalia, cutting offer levels consistently for over a month with no success.


RELATED NEWS
* India's fuel demand rose more than 5% year on year in February, but hit its lowest since October 2022, data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry showed on Thursday.
* Workers striking over proposed changes to France's pension system continued to block fuel deliveries and reduce electricity production at several sites on Thursday. (Reporting by Noah Browning; Editing by Kirsten Donovan)


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