Most of Angola’s September cargoes have been sold off, a trader said on Friday, as the country gears up to sell the 37 cargoes scheduled for loading in October.

There are about 1 or 2 cargoes left from the 31 Angolan cargoes scheduled for loading in September, the trader said, including a cargo of the light sweet grade Nemba being offered by Eni at dated Brent plus 50 cents.

Despite a cooling economy in China – Angola’s biggest customer – OPEC-led supply cuts should keep demand robust for Angolan crude, the trader added, particularly for heavier oil grades.

Saudi Arabia has extended an additional 1 million barrels per day voluntary production cut for a third month in September and kept the door open for further cuts.

Exports of Nigeria’s Forcados grade of crude oil resumed on Sunday, a Shell spokesperson said earlier this week, roughly a month after loadings of the medium sweet grade were suspended because of a potential leak at the export terminal.
Source: Reuters (Reporting by Natalie Grover in London; Editing by Maju Samuel)