* The Nigerian Bonga crude stream is due to load four
cargoes and Forcados eight, including three deferred from the
previous month.
* The volumes are on par with those planned the previous
month.
* Nigerian crude oil production is ramping up after
technical issues reined in volumes for months on the Bonny
Light, Brass River and Forcados streams.
* The rebound is coming at an inopportune time, traders
said, as crude from the region is being priced out of the
European market by competing U.S. and Mediterranean grades.
* An upturn in exports to the U.S. Atlantic coast has not
compensated for reduced flows to traditional markets, they
added.
* Sonangol offered its first May-loading crude: a cargo of
Gimboa at dated Brent minus $3.50 a barrel.
RELATED NEWS
* A plunge in Brent crude prices has narrowed the spread
between Atlantic Basin and Middle East benchmarks but has failed
to spur interest from Asian refiners, which are instead buying
up discounted Russian oil, leaving an overhang in African
supply.
* Portfolio investors dumped petroleum futures and options
at one of the fastest rates on record in the early stages of the
banking crisis as traders anticipated an increased probability
of a recession hitting oil consumption.
(Reporting by Noah Browning
Editing by David Goodman
)
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