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West African Price Cuts Clear Decks for October

Copyright © 2021 Energy Intelligence Group
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• West African sellers have priced barrels more competitively in a market clouded by weakening demand. • Nigeria has benefited from the Indian recovery, but delays involving Forcados have added to ongoing delays at Nigerian terminals. Sellers of West African crude face a clearer run to trade October cargoes after a tough trading month in which weak demand from China and tough competition from rival regions weighed heavily on differentials. The September overhang for West Africa as a whole is smaller than in previous months with 25 cargoes still to sell, including just two for Angola, traders estimated on Aug. 19. “It is a lot tidier,” said one trader. “The barrels have been priced to move, and they have been moving." Estimated West African

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