W. Africa Crude-IOC mops up as spot trade stutters

 LONDON, Feb 7 (Reuters) - A major Indian refiner mopped up
five cargoes in its latest tender taking advantage of a
favourable market structure and cheaper freight while spot trade
was subdued. * Unipec was offering Gindungo from dated Brent minus 20
cents, Pazflor at plus 80 cents and Sangos and Saturno at plus
50 cents and minus 65 cents respectively. * State oil company Sonangol continued to offer a cargo of
Dalia at Dated Brent plus $1.50. * Chevron was offering a cargo of the Congolese grade at
dated Brent flat. * India's IOC awarded its April 1-10 loading tender to BP
and Vitol for a VLCC of crude each and to Chevron for a Suezmax
cargo. RELATED NEWS * Russia said on Friday it needed more time to decide
whether to join any additional oil output cut by OPEC, saying
U.S. crude production growth would slow and global demand
remained solid. (Reporting by Julia Payne, editing by Louise Heavens) ))
Comments

Leave a Reply

Skip to toolbar