W. Africa Crude-Angolan cargoes dwindle as diffs stay steady

 LONDON, Jan 9 (Reuters) - Angolan cargoes are slowly but
steadily being bought up though offer levels remain largely
steady. * Angola's remaining cargoes for loading in February
continued to dwindle, with around a dozen still left to be sold. * At least two cargoes of Dalia were still available, one
from Sonangol and another from BP loading January 30-31, offered
at dated Brent plus $2.50. * All cargoes of Cabinda crude were heard to have sold out. * Sellers have kept offers steady, traders say, believing
that demand for heavy sweet crude amid new cleaner shipping fuel
rules will compel buyers despite high freight rates and
backwardation. * While Eastern buying of Angolan crude has been relatively
muted, a cargo of Australian heavy sweet Pyrenees crude sold at
a record premium of around $30 a barrel above dated Brent via a
spot tender loading in March. * With new loading programmes expected next week, both
Angolan and Nigeria crude had a much larger glut of cargoes than
usual due to high prices and slow sales before the holidays. * India's IOC is running buying tenders this week for crude
to be delivered in the first half of March. RELATED NEWS * Even as the United States and Iran appear to signal a
keenness to avoid further conflict, oil and gas shipowners are
bracing to pay a price for the war of words that culminated in
rocket strikes in Iraq over the last week - higher insurance
bills. * Kuwaiti oil output in the Neutral Zone (NZ) it shares with
Saudi Arabia is expected to reach 250,000 barrels per day (bpd)
when production restarts at the end of this year, the country's
oil minister said on Thursday. (Reporting by Noah Browning; Editing by Kirsten Donovan) ))

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