Differentials for West African crude need to come down for demand to pick up in the sluggish market that has in the last week slowed considerably by weak refining margins, a trader said on Friday.

There is still a considerable overhang of both Angolan and Nigerian cargoes scheduled for loading in November at this stage of the month, the trader said.

Offers for the Nigerian grade Escravos was last offered at dated Brent plus $6 a barrel, the trader said.

Early last week some key WAF grades were being offered at high-premiums to dated Brent, with prices hitting multi-month highs, but weak refining margins began to subdue demand, traders said.

Premiums have fallen since, by $1 to $2 a barrel, but need to fall further, the trader added on Friday.
Source: Reuters (Reporting by Natalie Grover in London;Editing by Shweta Agarwal)