Demand for West African Oil Racked by Perfect Storm

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  • High freight costs and the rerouting of Russian crude flows are punishing West African crude in key markets.
  • Refinery strikes in France have seriously dented appetite for Nigerian barrels.
  • Chinese demand has yet to show a significant preference for Angolan fare.

West Africa faces a perfect storm of a large cargo overhang, tough competition from cheaper rival crudes, and weak demand in key markets Asia and Europe, all which are weighing on differentials.

Oil Demand, Oil Supply, Crude Oil
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