West Africa's April Trade off to Slow Start

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  • Angolan crudes have come under pressure in the Chinese market from cheaper Brazilian and Guyanese grades.
  • Angolan trades adjusted more to European timetable.
  • Nigeria increasingly challenged by US and Mediterranean crude in Europe.

After a strong performance in March, and in anticipation of stronger demand from China and a scarcity in Europe, sellers of West African crude hiked offer prices for April cargoes. However, trade has been slow as refiners have so far dismissed West African crude as overpriced relative to offerings from other regions.

Crude Oil, Oil Supply, Oil Trade, Oil Spot Markets
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