September 16, 2019 / 4:11 PM / a month ago

W. Africa Crude-Trade muted after flat price jump, Angolan prog emerges

    LONDON, Sept 16 (Reuters) - Demand ground to a halt on
Monday after oil prices soared by nearly 20% in early trade
after attacks on Saudi Arabia's oil infrastructure at the
weekend.
        
    * Front-month backwardation has also jumped by about 40
cents to $1.35 a barrel LCOc1-LCOc2, making sending barrels to
Asia even less appealing. 
    * Angola will export 39 crude oil cargoes in November, up
from initial October programme of 38 cargoes, a preliminary
programme showed. 
    * Around 10 Angolan cargoes still remained from the October
programme.
    * Around 35 cargoes of Nigerian October-loading were still
available, a substantial overhang with November schedules due
out soon.
    * India's IOC issued a tender for west Africa crude loading
in early November. Tender results are expected on Thursday. 
    
    RELATED NEWS
    * Saudi Aramco's full return to normal oil production
volumes "may take months", two sources briefed on the company's
operations said on Monday, after attacks on Saudi oil plants
knocked out more than half of the country's output.             
    * Buyers of Saudi crude are being asked to take heavier
grades, several trading sources said. At least one tanker
currently loading will take Arab Heavy instead of Arab Light.
            

 (Reporting by Julia Payne and Susan Fenton, editing by Ed
Osmond)
  
 
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