W. Africa Crude-Nigerian export plans emerge as differentials remain under pressure

LONDON, March 21 (Reuters) - Nigerian export plans for May began to emerge as slow European and Chinese buying continued to pressure differentials for West African crude.

* Nigeria will export five cargoes each of Qua Iboe and Escravos crude; four cargoes of Amenam; three cargoes each of Erha, Agbami, Akpo and Egina and one cargo each of Usan and Yoho.
* Improved arbitrage economics and higher freight rates, which could be anticipating higher demand, have yet to stimulate a big boost to sales toward South and East Asia, traders said.
* Chinese buying has fallen far short of pre-pandemic levels, traders said, despite the relaxation of the strictest COVID-19 curbs.
* Angolan crude for April had yet to completely sell out, even as new export plans for May emerged on Friday.
* French refinery strikes and stiff competition from U.S. grades have pressured offers for Nigerian oil. (Reporting by Noah Browning. Editing by Jane Merriman)

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Reuters

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W. Africa Crude-Nigerian export plans emerge as differentials remain under pressure

By Reuters

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