W. Africa Crude-South Asian sales perk up, draining some overhang

Kitco Media
By Reuters
Published:
Updated:
Reuters
LONDON, April 4 (Reuters) - Several purchases of mostly Nigerian crude by South Asian refiners drained a large overhang of supplies stranded by lacklustre European demand and a refinery strike in France.


* India's HPCL filled its latest tender with Nigerian Okone and Okwuibome crude from commodities giant Vitol, traders said.
* Both Indonesia's Pertamina and India's IOC also purchased West African crude in their latest tenders for June delivery.
* IOC awarded its tender to BP for Plutonio, while Pertamina purchased several grades, including Nigerian Okwuibome and Congolese CoCo, from Vitol as well as Gabonese Rabi Blend from Gabon.
* Nigerian oil flows to France were down by nearly three-quarters, according to data from Refinitiv, as a key market for the number one West African exporter remains plagued by an ongoing strike.


RELATED NEWS
* Iraq's federal government and the Kurdistan Regional Government (KRG) signed a deal to restart northern oil exports through Turkey on Tuesday, official sources told Reuters.
* The surprise oil output cuts announced on Sunday by OPEC+ members illustrate their greater power over the market, given limited supply growth by other producers such as U.S. shale firms and still-growing demand despite the energy transition. (Reporting by Noah Browning; Editing by Sharon Singleton)


W Africa Asia crude exports, monthly New African oilfields speed guide crude speed guide
NYMEX crude ICE crude North Sea crude oil oil products derivatives European products Latest ICE Latest NYMEX ))))
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.