Angolan crude oil for November loading was selling relatively rapidly, traders said on Monday,
with just a third of cargoes for the month still available for sale less than two weeks after coming to market.
Around 16 of 49 cargoes were available, with a similar number selling on term contracts and via the spot market. Differentials were slightly firmer than for October loading cargoes, with improved refining margins in Europe helping to offset pressure on prices caused by a well-supplied market.
Nigerian sales were slower with only around 15 Nigerian cargoes out of a total of 62 finding buyers, with around 5-10 October cargoes also available.
West African crude oil exports to Asia are set to fall to 1.72 million barrels per day (bpd) in October from 2.00 million bpd planned for September, a Reuters survey indicated on Monday.
NIGERIA
* All but one of the eight Agbami cargoes for November loading had changed hands, a trader said. It traded in the dated Brent plus 25-50 cents range.
* Qua Iboe: On offer for November at around dated Brent plus $2.00, a trader said, but traders said it would trade closer to $1.50 above dated Brent.
* There are 62 cargoes loading in November, the same as in October although the daily loading rate will be higher due to the shorter month.
ANGOLA
* Nemba is the slowest of the grades to sell. The light, low sulphur grade was assessed at around dated Brent plus 25 to 50 cents.
* CLOV, the newest Angolan grade, has sold out.
* Cabinda: Three cargoes are still available. Offered this week at dated minus $1.50, higher than the last known deals.
.Reported by Reuters