W. Africa Crude-Angolan supply ample, China buying subdued

LONDON, Jan 2 (Reuters) – Angolan crude cargoes remained in ample supply for February loading, traders said on Wednesday, while Chinese demand was subdued, suggesting differentials could weaken.


* About 16 cargoes of February-loading crude were available, a trader said, suggesting a well-supplied market.

* Chinese demand has been weaker for the latest month’s cargoes and inventories are high, traders said.

* Offer levels were not believed to have changed on Wednesday. State oil firm Sonangol was last offering two cargoes of Dalia at dated Brent minus 30 cents a barrel loading Feb. 17-18 and Feb. 23-24.


* Spot activity was limited. Qua Iboe crude was offered at dated Brent plus $1.70 a barrel, suggesting no change from pre-holiday levels. (Reporting by Alex Lawler; editing by Susan Fenton) ))


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