LONDON, Feb 13 (Reuters) – Nigerian crude differentials held steady as there remained a large number of cargoes for March loading and as a buy tender from India’s IOC, set to close on Wednesday, tested prices.
* About 20 cargoes of Nigerian crude were left in the March loading programme.
* India’s IOC has issued two buy tenders for crude loading between March 26 and April 4 and another for April 7-16. Both tenders close on Thursday with results expected on Friday.
* Less than five cargoes of Angolan crude were still available in March. Low freight rates have helped boost demand, a trader said.
* The April Angolan programme is expected at the end of the week or the beginning of next week.
* Nigeria elections due to be held at the weekend could delay the loading programme, traders said.
* The International Energy Agency said in a report on Wednesday that global oil supply will swamp demand in 2019 despite producer cuts and U.S. sanctions on Venezuelan and Iranian crude, due to fast-growing supply from outside OPEC.
* Goldman Sachs said that hefty production cuts by some major oil suppliers and falling seasonal crude inventories due to growing demand will push up Brent crude prices to $67.50 per barrel in the second quarter of 2019. (Reporting by Amanda Cooper and Noah Browning Editing by Susan Fenton) ))