West African Trade Perks Up on Chinese Demand, EU Ban

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  • West Africa oil trade is livening up after a slow start as Unipec nabs spot cargoes.
  • Sellers are hiking offer prices in anticipation of stronger demand from both Asia and Europe.
  • Competition from rival grades in the US and Brazil remain a salient challenge.

Sellers of March-loading West African crude reported a long-awaited uptick in sales this week at stronger differentials. There has been a pickup in Chinese buying after the Lunar New Year holiday, while Europe is readying for an expected surge in demand for distillate-rich grades ahead of the EU ban on Russian product imports.

Oil Trade, Crude Oil
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