Most of Nigeria’s December-loading cargoes have finally been sold, a trader said on Friday.

As of Nov. 30, there were about 19 December-loading Nigerian cargoes left, even as the country’s January programme emerged days earlier.

The overhang of cargoes cleared at “cheap levels” the trader said.

The market for West African crude has weakened in the aftermath of a recent OPEC+ meeting where cuts were not agreed on in the two key markets – Nigeria and Angola.

Angola has seen the bulk of its January-loading cargoes already sold, with a trader on Friday saying there about 10 left, from the roughly 12 estimated earlier this week.

Even so, this is quite a few left over at this stage of the Angolan trading cycle, in a sign that thawing demand from key customer China is affecting the pace of sales.
Source: Reuters (Reporting by Robert Harvey and Natalie Grover in London; Editing by Kirsten Donovan)