Chinese Demand Revives Angolan Exports

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  • Angola appears set for another uptick in crude differentials thanks to firmer Asian demand and tighter supply.
  • Nigeria has cut its official selling prices to clear an overhang.
  • Nigeria continues to suffer ongoing delays at several terminals.

The West African crude market has returned to a familiar, lively pattern ahead of the trade in November cargoes. Angola managed to clear its medium, sweet October cargoes, while Nigeria, which trades over a longer cycle, wrestled with a 15-20 cargo overhang.

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