* Europe, including France's large refining system, was an
outlet that used to mop up overhangs of west African crude.
* High VLCC freight rates have begun to soften which could soon spur more Asian demand.
* Angola's state oil firm Sonangol was offering two spot
cargoes in May: a Gimboa at dated Brent minus $3.50 and a
Girassol at dated Brent plus $3.00 a barrel.
* An overhang of about 20 cargoes of April loading Nigerian
crude persisted. The latest official selling prices were not
adjusted to entice more demand.
* Several April loading Nigerian cargoes were on offer: Qua
Iboe at dated Brent plus $2.00, Akpo and Agbami at dated Brent
flat, and Bonga and Erha at dated Brent plus $3.00 a barrel.
* Four cargoes of Nigeria's Bonny Light will load in May. RELATED NEWS
* Asian gasoil stocks have risen sharply in recent weeks as
regional refiners are stuck exporting to markets east of the
Suez, with narrower opportunities to send barrels to Africa
flooded with Russian cargoes, traders and analysts said.
* China is expected to account for around 40% of the
increase in global oil demand this year as its economy emerges
from strict lockdowns, but the increased use will not take
prices back to 2022 levels, consultancy Wood Mackenzie said on
Thursday.
(Reporting by Julia Payne;Editing by Elaine Hardcastle)
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