Angolan crude oil was offered at steady differentials on Friday while Indian Oil Corp. skipped West African crude in its most recent buying tender, traders said.

IOC opted instead for Murban crude from the United Arab Emirates, the trader said.

In the Platts afternoon trading window, Mercuria bid for a 950,000 barrel cargo of Forcados loading on July 30 – Aug. 12 at dated Brent plus $2.70.

Mercuria also bid for an Escravos cargo of the same volume and loading dates at dated plus $2.60. Neither bid sparked any selling interest.

Angola’s Sonangol was still offering a Dalia cargo at dated Brent plus 25 cents, down 25 cents from the level at which an earlier cargo was offered, and a Gimboa cargo at dated Brent minus 25 cents, also down 25 cents from an earlier offer.

On Nigerian crude, the market is still focused on clearing unsold cargoes of July-loading crude. Supply of some of the larger crude streams is set to rise in August.

Exports of the four main Nigerian crude oil grades in August are set to average 858,000 barrels per day (bpd), up from July according to programmes shared by traders.

The scheduled loadings of Bonny Light, Bonga, Qua Iboe and Forcados crude oil streams stood at 675,000 bpd for July, according to Reuters calculations, before taking deferred cargoes into account.
Source: Reuters (Reporting by Alex Lawler; Editing by Louise Heavens)