There is still quite a bit of West African crude scheduled for December-loading available at this stage of the trading cycle, a trader said on Friday.

A considerable amount of Ghanian and Gabonese cargoes are still on offer, and the bulk of Nigerian cargoes are also available, the trader said.

“If you don’t need to buy before year-end why bother?,” he added.

Generally, buying activity slows by the end of the year for tax reasons.

Another couple of Angolan cargoes have been sold leaving about 8 or 9 scheduled for December loading, the trader said, down from the 10 estimated on Thursday.

Angola’s loading programme for January is expected by the end of next week.

The apparent pick-up in sales follows a drop in flat prices and weaker differentials in the wider market due to a jump in freight costs and a drop in refining margins.
Source: Reuters (Reporting by Natalie Grover in London; Editing by Kirsten Donovan)