West African crude oil differentials were under more pressure on Friday with Angolan Dalia offered lower, amid weak economic sentiment and ample supply.

Equinor offered Angolan Dalia for loading June 4-5 at dated Brent minus 25 cents via the Platts system. On Thursday, Dalia was offered at dated Brent plus 30 cents.

Indian Oil Corp bought cargoes of Usan and Akpo in its latest tender, a source said.

Additional OPEC+ barrels are creating an amply supplied market in Asia, weighing on differentials, another source said.

There are still unsold May-loading barrels and so far few deals have been concluded for June cargoes.

A tender by Indian Oil Corp. is scheduled for Thursday, according to a trade source.

Among offers on Thursday was Angolan Dalia crude for dated Brent plus 30 cents.

Demand is lower for West African grades because of competition from Latin America and the Persian Gulf, the source said.

Indonesia’s Pertamina secured Angolan Cabinda barrels in a tender over the weekend, with results released on Wednesday.
Source: Reuters